Luna Innovations Receives NASDAQ Extension
04 Janeiro 2010 - 1:43PM
Business Wire
Luna Innovations Incorporated (NASDAQ: LUNA) today announced
that on December 28, 2009, the Company received notice from the
NASDAQ Listing Qualifications Panel (the “Panel”) indicating that
the Panel has granted the Company’s request for continued listing
on The NASDAQ Capital Market pursuant to an extension through
January 13, 2010. The Panel’s decision requires the Company to
demonstrate compliance with all applicable requirements for initial
listing on The NASDAQ Capital Market upon its emergence from
bankruptcy. January 13, 2010 represents the full extent of the
Panel’s discretion in this matter. While the Company is hopeful
that it will emerge from bankruptcy by January 13, 2010, there can
be no assurance that it will be able to satisfy the initial listing
requirements, including the $4 per share bid price requirement,
immediately upon emergence from bankruptcy. In the event the
Company is not able to satisfy the initial listing requirements
upon its emergence from bankruptcy, the Company intends to take all
appropriate actions to achieve compliance with the initial listing
requirements as soon thereafter as possible. In such an event, the
Company would request that the NASDAQ Listing and Hearing Review
Council grant the Company a further extension of time to
demonstrate compliance with the applicable initial listing
requirements. However, there can be no assurance that NASDAQ would
grant the Company’s request for a further extension.
About Luna Innovations:
Luna Innovations Incorporated (www.lunainnovations.com) is
focused on sensing and instrumentation, and pharmaceutical
nanomedicines. Luna develops and manufactures new-generation
products for the healthcare, telecommunications, energy and defense
markets. Its products are used to measure, monitor, protect and
improve critical processes. Through its disciplined
commercialization business model, Luna has become a recognized
leader in transitioning science to solutions. Luna is headquartered
in Roanoke, Virginia.
Forward Looking Statements:
This release includes information that constitutes
“forward-looking statements” made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995,
including statements regarding, but not limited to the ability to
meet the conditions precedent to settlement and obtain adequate
plan confirmation in Chapter 11 reorganization and pay all of
Luna’s creditors. Statements that describe the Company’s business
strategy, goals, prospects, opportunities, outlook, plans or
intentions are also forward looking statements. Actual results may
differ materially from the expectations expressed in such
forward-looking statements as a result of various factors,
including risks and uncertainties set forth in the company’s
periodic reports and other filings with the Securities and Exchange
Commission. Such filings are available at the SEC’s website at
http://www.sec.gov, and at the company’s website at
http://www.lunainnovations.com. The statements made in this release
are based on information available to the company as of the date of
this release and Luna Innovations undertakes no obligation to
update any of the forward-looking statements after the date of this
release.
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