DPW Holdings Announces Second Notice of Noncompliance with NYSE American Listing Standards
July 03 2019 - 2:13PM
Business Wire
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (the “Company”) announced today that it has received
a deficiency letter dated July 3, 2019 (the “Letter”) from
the NYSE American LLC (the “Exchange”). On January 4, 2019,
the Exchange had sent the Company the original deficiency letter
(the “Prior Letter”), which indicated that the Company was
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 Prior Letter informed
the Company that the Exchange had 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 “Price
Noncompliance”), the Company's continued listing is predicated
on the Company effecting a reverse stock split of the Shares or
otherwise demonstrating sustained price improvement within a
reasonable period of time, which the Exchange determined to be no
later than July 4, 2019.
In the Letter, the Exchange advised the Company that it has yet
to become compliant with the Price Noncompliance provision and that
the listing of its Shares is therefore being continued pursuant to
an extension temporarily granted by the Exchange. Finally, the
Exchange informed the Company that it will determine whether or not
the Company has regained compliance with the Price Noncompliance
provision no later than July 19, 2019
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
The foregoing 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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