DPW Holdings, Inc. Regains Compliance with NYSE American Continued Listing Standards
September 19 2019 - 6:45AM
Business Wire
DPW Holdings, Inc. (NYSE American: DPW), a diversified holding
company (“DPW,” or the “Company”), announced today
that on September 17, 2019, the NYSE American LLC (“NYSE
American”) notified DPW that the Company has successfully
regained compliance with the NYSE American’s continued listing
standards related to price per share set forth in Section
1003(f)(v) of the NYSE American Company Guide (the “Company
Guide”).
As previously disclosed, on each of January 4, 2019, July 3,
2019 and July 29, 2019, the Company received a letter
(collectively, the “Deficiency Letter”) from the NYSE
American stating that the Company was not in compliance with the
continued listing standards set forth in Section 1003(f)(v) of the
Company Guide as a result of the then-existing low trading price of
the Company’s common stock. As set forth in the Deficiency Letter,
the continued listing of the Company’s common stock on the NYSE
American was predicated on the Company demonstrating sustained
price improvement within a reasonable period of time and, as most
recently stated by the NYSE Exchange in the Deficiency Letter dated
July 29, 2019, conducting a reverse stock split of its shares of
common stock by no later than August 6, 2019. As a result of
management’s efforts to regain compliance, the NYSE American has
informed the Company that it is now in full compliance with the
NYSE American’s continued listing standards set forth in Part 10 of
the Company Guide and that the “.BC” designation was removed from
the “DPW” trading symbol effective as of the commencement of
trading on September 18, 2019. In addition, the Company was removed
from the list of NYSE American noncompliant issuers on the
exchange’s website.
The Company recommends that stockholders, investors and any
other interested parties read the Company’s public filings and
press releases available on its website at www.DPWHoldings.com
under the Investor Relations section 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 with a global impact. 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 U.S. Securities and Exchange Commission,
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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