DPW Holdings Announces Notice of Noncompliance with NYSE American Listing Standards
July 29 2019 - 5:25PM
Business Wire
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“DPW” or the “Company”) announced it had
received a deficiency letter (the “Letter”) from NYSE
American, LLC (the “Exchange”) indicating that the Company
is not in compliance with the continued listing standards as set
forth in Section 1003(f)(v) of the NYSE American Company Guide (the
“Company Guide”). Specifically, the Letter informed the
Company that the Exchange has determined that the shares of the
Company's common stock (the “Shares”) have been selling for
a low price per Share for a substantial period of time and,
pursuant to Section 1003(f)(v) of the Company Guide, the Company's
continued listing is predicated on the Company effecting a reverse
stock split of the Shares, which is scheduled to become effective
on August 6, 2019, or otherwise demonstrating sustained price
improvement within a reasonable period of time, which the Exchange
determined to be no later than September 16, 2019.
For more information on the Company, DPW recommends that
stockholders, investors and any other interested parties read the
Company’s public filings and press releases available under the
Investor Relations section at http://www.DPWHoldings.com or
available at www.sec.gov.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies that hold global potential. Through its wholly owned
subsidiaries and strategic investments, the Company provides
mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial,
telecommunications, medical, crypto-mining, and textiles. In
addition, the Company owns a select portfolio of commercial
hospitality properties and extends credit to select entrepreneurial
businesses through a licensed lending subsidiary. DPW’s
headquarters are located at 201 Shipyard Way, Suite E, Newport
Beach, CA 92663; www.DPWHoldings.com.
Forward-Looking
Statements
This press release contains “forward looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the SEC including, but not limited to, the
Company’s Forms 10-K, 10-Q and 8-K. All filings are available at
www.sec.gov and on the Company’s website at
www.DPWHoldings.com.
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