Luna Innovations Receives NASDAQ Notification Regarding Bid Price; Grace Period Granted Through March 15, 2010
18 Setembro 2009 - 5:05PM
Business Wire
Luna Innovations Incorporated (NASDAQ:LUNA), a company focusing
on sensing & instrumentation and pharmaceutical nanomedicines,
today announced that the Company has received a letter from The
NASDAQ Stock Market indicating that because the bid price of the
Company’s common stock closed below the minimum $1.00 per share
threshold set forth in NASDAQ Listing Rule 5550(a)(2) for the prior
30 consecutive business days, the Company has been provided 180
calendar days, or until March 15, 2010, to regain compliance with
the minimum bid price requirement. In addition, should the Company
satisfy the criteria for initial listing on The NASDAQ Capital
Market (except for bid price) as of March 15, 2010, the Company
will be entitled to a second 180-calendar day period, through
September 13, 2010, to regain compliance with the minimum bid price
requirement. The Company will regain compliance with NASDAQ’s
minimum bid price requirement if the bid price of its common stock
closes at $1.00 or higher for a minimum of ten consecutive business
days during the compliance period. This notice does not affect the
Company’s listing on NASDAQ at this time.
As previously announced on September 8, 2009, the NASDAQ Listing
Qualifications Panel determined to transfer the Company’s listing
to The NASDAQ Capital Market and to continue the listing of the
Company’s common stock subject to several conditions, including the
Company’s emergence from Chapter 11 reorganization by December 31,
2009.
About Luna Innovations:
Luna Innovations Incorporated (www.lunainnovations.com) develops
and manufactures new-generation products for the healthcare,
telecommunications, energy and defense markets. Our products are
used to measure, monitor, protect and improve critical processes in
the markets we serve. Through its disciplined commercialization
business model, Luna has become a recognized leader in
transitioning science to solutions. Luna is headquartered in
Roanoke, Virginia.
Luna Innovations (NASDAQ:LUNA)
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