WiSA Technologies Regains Nasdaq Compliance with Minimum Bid Price Rule
May 02 2024 - 6:00AM
Business Wire
WiSA Technologies, Inc. (Nasdaq: WISA, the “Company”), a leading
innovator in wireless audio technology for intelligent devices and
next-generation home entertainment systems, has received
confirmation from The Nasdaq Stock Market LLC (“Nasdaq”) that it
has regained compliance with the minimum bid price requirement of
$1.00 per share under Nasdaq Listing Rule 5550(a)(2).
The Company continues to be subject to a mandatory panel monitor
until April 29, 2025. If, during that time, the Company falls out
of compliance with Nasdaq Listing Rule 5550(a)(2), Nasdaq will
issue a noncompliance letter, and the Company will be required to
request a new hearing on the matter.
About WiSA Technologies, Inc.
WiSA Technologies, Inc. (NASDAQ: WISA) is a leading provider of
immersive, wireless sound technology for intelligent devices and
next-generation home entertainment systems. Working with leading CE
brands and manufacturers such as Harman International, a division
of Samsung; LG; Hisense; TCL; Bang & Olufsen; Platin Audio; and
others, the company delivers immersive wireless sound experiences
for high-definition content, including movies and video, music,
sports, gaming/esports, and more. WiSA Technologies, Inc. is a
founding member of WiSA™ (the Wireless Speaker and Audio
Association) whose mission is to define wireless audio
interoperability standards as well as work with leading consumer
electronics companies, technology providers, retailers, and
ecosystem partners to evangelize and market spatial audio
technologies driven by WiSA Technologies, Inc. The company is
headquartered in Beaverton, OR with sales teams in Taiwan, China,
Japan, Korea, and California.
© 2024 WiSA Technologies, Inc. All rights reserved. WiSA
Technologies, Inc. and the WiSA Technologies, Inc. logo are
trademarks of WiSA Technologies, Inc. The WiSA logo and WiSA® are
trademarks and certification marks of WiSA, LLC. Third-party trade
names, trademarks and product names are the intellectual property
of their respective owners.
Safe Harbor Statement
This press release contains forward-looking statements, which
are not historical facts, 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. In some cases, you can
identify these forward-looking statements by the use of words such
as “may,” “could,” “expect,” “intend,” “plan,” “seek,”
“anticipate,” “believe,” “estimate,” “predict,” “potential,”
“continue,” “likely,” “will,” “would” and variations of these terms
and similar expressions, or the negative of these terms or similar
expressions. Such forward-looking statements, including statements
herein regarding the Nasdaq hearings panel and process, are
necessarily based upon estimates and assumptions that, while
considered reasonable by us and our management, are inherently
uncertain. Readers are cautioned not to place undue reliance on
these forward-looking statements. Actual results may differ
materially from those indicated by these forward-looking statements
as a result of risks and uncertainties regarding, among other
items: our ability to maintain the listing of our common stock on
Nasdaq; our ability to manage costs and execute on our operational
and budget plans; our ability to achieve our financial goals; and
other risks as more fully described in our filings with the U.S.
Securities and Exchange Commission. The information in this press
release is provided only as of the date of this press release, and
we undertake no obligation to update any forward-looking statements
contained in this press release based on new information, future
events, or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240501669072/en/
Investors contact: David Barnard, LHA Investor Relations,
415-433-3777, wisa@lhai.com
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