Maris-Tech Regains Compliance with Nasdaq Minimum Closing Bid Price Rule
March 03 2023 - 9:27AM
Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the
"Company"), a B2B provider of intelligent video transmission
technology with AI acceleration for edge platforms, reported the
receipt of a formal notification from The Nasdaq Stock Market LLC
("Nasdaq") that the Company has regained compliance with Listing
Rule 5550(a)(2), which requires the Company's ordinary shares to
maintain a minimum bid price of $1.00 per share.
The Nasdaq staff made this determination of compliance after the
closing bid price of the Company's ordinary shares was at $1.00 per
share or greater for the prior 20 consecutive business days.
Accordingly, the Company has regained compliance with Nasdaq
Listing Rule 5550(a)(2) and Nasdaq considers the prior bid price
deficiency matter now closed.
About Maris-Tech Ltd.
Maris-Tech is a B2B provider of intelligent video transmission
technology, founded by veterans of the Israel technology sector
with extensive electrical engineering and imaging experience. Our
products are designed to meet the growing demands of commercial and
tactical applications, delivering high-performance, compact, low
power and low latency solutions to companies worldwide, including
leading electro-optical payload, RF datalink and unmanned platform
manufacturers as well as defense, HLS, and communication companies.
For more information, visit https://www.maris-tech.com/.
Forward-Looking Statement Disclaimer
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, that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “believe,” “expect,” “may,”
“should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,”
“anticipate” or other comparable terms. 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 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.
Our actual results and financial condition may differ materially
from those indicated in the forward-looking statements. Therefore,
you should not rely on any of these forward-looking statements.
Important factors that could cause our actual results and financial
condition to differ materially from those indicated in the
forward-looking statements include, among others, the following:
our ability to successfully market our products and services,
including in the United States; the acceptance of our products and
services by customers; our continued ability to pay operating costs
and ability to meet demand for our products and services; the
amount and nature of competition from other security and telecom
products and services; the effects of changes in the cybersecurity
and telecom markets; our ability to successfully develop new
products and services; our success establishing and maintaining
collaborative, strategic alliance agreements, licensing and
supplier arrangements; our ability to comply with applicable
regulations; and the other risks and uncertainties described in the
Annual Report on Form 20-F for the year ended December 31, 2021,
filed with the SEC and our other filings with the SEC. We
undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Investor Relations:
Michal Efraty, Adi and Michal PR- IR Investor Relations,
Israel
+972-72-2424022
ir@maris-tech.com
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