Vislink Announces Delisting from Nasdaq and Potential SEC Deregistration
January 31 2025 - 3:58PM
Vislink Technologies, Inc. (Nasdaq: VISL) (“Vislink” or the
“Company”), a global technology leader in the capture, delivery,
and management of high-quality, live video and associated data in
the media and entertainment, public safety, and defense markets,
today announced that it has provided notification to The Nasdaq
Stock Market, LLC (“Nasdaq”) of its intent to voluntarily delist
the Company’s common stock, par value $0.00001 per share (the
“Common Stock”), from the Nasdaq Capital Market. Vislink expects to
file a Form 25 (Notification of Removal from Listing) with the
Securities and Exchange Commission (the “SEC”) and Nasdaq relating
to the delisting of its Common Stock on or about February 10, 2025.
The removal of the Common Stock from Nasdaq will be effective 10
days after the filing of the Form 25.
The withdrawal of the Common Stock from listing
and registration is being undertaken following a determination by
the Company’s Board of Directors (the “Board”) that such delisting
and deregistration is in the best interest of the Company and the
holders of its Common Stock. The Board’s decision was based on a
careful review of numerous factors, including but not limited to,
the lack of an active trading market for the Company’s securities,
the required resources and expenses relating to continued
Securities Exchange Act of 1934 and Nasdaq disclosure and reporting
requirements and related regulatory burdens which have resulted and
would continue to result in significant operating expense and
attention of the Company’s management team.
Following the delisting, the Company expects
that the Common Stock will be quoted for trading on a market
operated by the OTC Markets Group Inc. (the “OTC”) so that a
trading market may continue to exist for such securities. There is
no guarantee, however, that a broker will continue to make or
maintain a market in the Common Stock.
“We believe delisting will help us realize
significant savings in both time and resources that will allow us
to better focus our energies on developing new products and
customers that will deliver greater shareholder value in the long
term,” said Mickey Miller, CEO of Vislink.
About Vislink
Vislink Technologies is a global technology
leader in capturing, delivering, and managing high-quality live
video and associated data. With a renowned heritage in video
communications encompassing over 50 years, Vislink has
revolutionized live video communications by delivering the
highest-quality video from the scene, even in the most challenging
transmission conditions, enabling broadcasters, defense, and public
safety agencies to capture and share live video seamlessly and
securely. Vislink provides live streaming solutions using RF,
bonded cellular, 5G, and AI-driven technologies. Vislink’s shares
of common stock are publicly traded on the Nasdaq Capital Market
under the ticker symbol “VISL.” For more information, visit
www.vislink.com.
Cautionary Note Regarding
Forward-Looking Statements
Statements in this press release about future
expectations, plans and prospects, as well as any other statements
regarding matters that are not historical facts, may constitute
forward-looking statements. The words “expect,” “intend,”
“continue,” “potential,” “may,” “will” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements in this press release include, but are
not limited to, statements concerning the Company’s plans with
respect to the delisting and deregistration of its Common Stock;
the perceived benefits and timing of the delisting and
deregistration; the Company’s expectations regarding and its
ability to realize the value of its intellectual property assets;
and the trading of the Common Stock. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: the risk that
the delisting and deregistration process will take longer than
expected and that the benefits of such actions may not be realized;
the impact of changing laws and regulations and those risks and
uncertainties described in the Company’s filings with the SEC,
including the Company’s Annual Report on Form 10-K for the year
ended December 31, 2023 filed with the Securities and Exchange
Commission (“SEC”) on April 3, 2024, and its subsequent filings
with the SEC. Any forward-looking statements contained in this
press release speak only as of the date hereof, and the Company
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events or
otherwise. Readers should not rely upon this information as current
or accurate after its publication date.
Media Contact:
Adrian LambertAdrian.lambert@vislink.com
Investor
Relations:investors@vislink.com
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