FTE Networks Receives Delisting Notice from NYSE American
December 19 2019 - 8:15AM
FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”)
announced that on December 17, 2019 it received a letter from the
NYSE American LLC (the “Exchange”) notifying the Company that the
Exchange had determined to commence proceedings to delist the
Company’s common stock (the “Common Stock”) from the Exchange,
pursuant to Section 1003(f)(iii) of the NYSE American Company Guide
(the “Company Guide”) because the Company or its management have
engaged in operations that, in the opinion of the Exchange, are
contrary to the public interest. The common stock was suspended at
market close on NYSE American on the same date.
The Exchange stated that it will apply to the
Securities and Exchange Commission (the “SEC”) to delist the
Company’s common stock upon completion of all applicable
procedures, including any appeal by the Company of the Exchange’s
delisting determination.
The Company has a right to request a review of
this determination by a Committee of the Board of Directors of NYSE
Regulation. FTE is considering this and other alternatives open to
the Company to act in the best interests of its shareholders and
will announce promptly any measures that its board of directors
determines are appropriate.
About FTE Networks, Inc.
FTE Networks, Inc. (“FTE”) through its
subsidiaries Crosslayer and Juscom divisions provide technology
solutions for smart building platforms, edge computing and network
infrastructure solutions for residential and commercial
properties. We create transformative smart platforms and
buildings. FTE’s services are predicated on smart design and
consistent standards that reduce deployment costs and accelerate
delivery of leading edge projects and services. The Company works
with Fortune 100/500 companies, including some of the world’s
leading Telecommunications and IT Services Providers as well as
REITs and Media Providers.
Forward-Looking Statements
This release may contain “forward-looking
statements” within the meaning of the safe harbor provisions of the
United States Private Securities Litigation Reform Act of 1995.
Generally, forward‐looking statements can be identified by the use
of forward‐looking terminology such as “believe,” “will,”
“intends,” “expects,” and may include statements regarding matters
that involve known or unknown risks, uncertainties and other
factors that may cause our results, levels of activity, performance
or achievements to differ materially from results expressed or
implied by this release. Forward-looking statements are
neither historical facts nor assurances of future
performance. Instead, they are based only on our current
beliefs, expectations, and assumptions regarding the future of our
business, future plans and strategies, projections, anticipated
events and market trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. These risk factors and
others are included from time to time in documents we file with the
Securities and Exchange Commission, including but not limited to,
our Form 10-K’s, Form 10-Q’s and Form 8-K’s. Our actual
results and financial condition may differ materially from those
indicated in the forward-looking statements. Accordingly, you
should not place undue reliance on these forward-looking
statements. Any forward-looking statement made by us in this
release is based only on information currently available to us and
speaks only as of the date on which it is made. We undertake no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise.
For more information, please contact:
Corporate Contact:FTE Networks,
Inc.237 W. 35th Street, Suite 601New York, NY
10001(877) 850-4308ir@ftenet.com
FTE Networks (AMEX:FTNW)
Historical Stock Chart
From Mar 2024 to Apr 2024
FTE Networks (AMEX:FTNW)
Historical Stock Chart
From Apr 2023 to Apr 2024