Veri-Tek International, Corp. Common Stock Approved for Listing on NASDAQ Capital Market Under Ticker 'MNTX'
May 13 2008 - 4:01PM
PR Newswire (US)
Company Changes Name to Manitex International, Inc. BRIDGEVIEW,
Ill., May 13 /PRNewswire-FirstCall/ -- Veri-Tek International,
Corp. (AMEX:VCC) ("Veri-Tek" or the "Company") announced today that
it has received notification from The NASDAQ Stock Market LLC(R)
that Veri-Tek's common stock is approved for listing on The NASDAQ
Capital Market. Veri-Tek's Board of Directors has approved the
decision to change the listing of Veri-Tek's common stock from The
American Stock Exchange to The NASDAQ Capital Market. In addition,
Veri-Tek's shareholders recently approved changing the company's
name to Manitex International, Inc. Veri-Tek expects to effect the
name change prior to its listing on The NASDAQ Capital Market.
Veri-Tek currently is going through the required regulatory
processes associated with the move to The NASDAQ Capital Market and
expects its common stock to begin trading on NASDAQ under the
symbol "MNTX" on Wednesday, May 28, 2008. Veri-Tek's common stock
will continue to trade on The American Stock Exchange under its
current symbol, "VCC," until such date. "Our listing on NASDAQ
marks a significant milestone in the transformation of our
company," said David Langevin, Chairman and Chief Executive
Officer. "During the past 18 months we have been consistent in our
approach to strategic and corporate development, taking steps to
strengthen our balance sheet, streamline our operations, and
improve our financial performance. We believe that this move to the
NASDAQ is in the best interests of our shareholders and we expect
it to result in increased visibility within the investment
community and additional liquidity in the capital markets for our
common stock. In addition, we felt this was the right time to
change our name to Manitex International, Inc., which is our
largest and most well-known brand among our materials handling
product lines. We expect that the name change will result in a
clearer corporate identity to our customers as well as to the
specialized lifting equipment industry in which we operate."
NASDAQ(R) is the largest U.S. electronic stock market. With
approximately 3,200 companies, it lists more companies and, on
average, its systems trade more shares per day than any other U.S.
market. NASDAQ is home to companies that are leaders across all
areas of business including technology, retail, communications,
financial services, transportation, media and biotechnology. NASDAQ
is the primary market for trading NASDAQ-listed stocks. For more
information about NASDAQ, visit the NASDAQ Web site at
http://www.nasdaq.com/ or the NASDAQ Newsroom(SM)
http://www.nasdaq.com/newsroom. About Veri-Tek International, Corp.
Veri-Tek International, Corp. is a leading provider of engineered
lifting solutions including boom trucks, cranes, rough terrain
forklifts, and special mission oriented vehicles. Our Manitex
subsidiary manufactures and markets a comprehensive line of boom
trucks and sign cranes. Our boom trucks and crane products are
primarily used in industrial projects, energy exploration and
infrastructure development, including roads, bridges, and
commercial construction. The Manitex Liftking subsidiary, which
includes the Noble forklift product line, manufactures and sells a
complete line of rough terrain forklifts and special mission
oriented vehicles, as well as other specialized carriers, heavy
material handling transporters and steel mill equipment. Manitex
Liftking's rough terrain forklifts are used in both commercial and
military applications. This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements include statements relating to
the anticipated timing of the trading of the Company's common stock
on The NASDAQ Capital Market and the expectation of an orderly
transfer to NASDAQ from the American Stock Exchange.
Forward-looking statements are based on current expectations and
assumptions, and involve various risks and uncertainties that could
cause actual results to differ materially from those expressed in
such forward-looking statements. Such risks and uncertainties, many
of which are beyond the Company's control, include the ability of
the Company to continue to satisfy the initial listing requirements
of The NASDAQ Capital Market, and other factors identified and
discussed from time to time in the Company's filings with the
Securities and Exchange Commission, including those factors
discussed in the Company's most recent annual report on Form 10-K
and subsequent quarterly reports on Form 10-Q, which discussions
are also incorporated herein by reference. Actual events or the
actual factual results may differ materially from any
forward-looking statements due to these and other risks,
uncertainties, and significant factors. All forward-looking
statements speak only as of the date of this press release. The
Company expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements included in this press release to reflect any changes in
the Company's expectations with regard thereto or any changes in
events, conditions, or circumstances on which such statements are
based. Company Contact: Veri-Tek International, Corp. Hayden
Communications David Langevin Peter Seltzberg or Brett Maas Chief
Executive Officer Investor Relations (708) 237-2060 (646) 415-8972
DATASOURCE: Veri-Tek International, Corp. CONTACT: David Langevin,
Chief Executive Officer of Veri-Tek International, Corp.,
+1-708-237-2060, ; or Peter Seltzberg, , or Brett Maas, both
Investor Relations of Hayden Communications, +1-646-415-8972, for
Veri-Tek International, Corp. Web site: http://www.veri-tek.com/
http://www.nasdaq.com/
Copyright
Veri Tek (AMEX:VCC)
Historical Stock Chart
From Apr 2024 to May 2024
Veri Tek (AMEX:VCC)
Historical Stock Chart
From May 2023 to May 2024