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Capital Raise and NYSE Delisting Potential      7-Oct-09 02:36 pm    
We may seek to raise additional funding through equity or certain forms of debt financing in the future that could dilute the percentage ownership held by existing stockholders. In addition, new investors may demand rights or privileges that are preferable to, or senior to, those of our existing stockholders, such as interest payments, dividends or warrants, as a condition to completing a transaction that provides us with capital.

We have fallen below the continued listing standards of the New York Stock Exchange (“NYSE”) and our common stock could be delisted by the NYSE

In November, 2008, we were notified by the NYSE that we had fallen below their continued listing standards because over a 30-trading-day period, our average total market capitalization was less than $75 million and, during the same period, our stockholders’ equity was less than $75 million. In accordance with applicable NYSE rules, in January, 2009 we submitted to the NYSE a business plan that demonstrates how we intend to regain compliance with the continued listing standards within 18 months. Our plan was accepted by the NYSE in February 2009. In May 2009, the Securities and Exchange Commission accepted a proposed rule amendment from the NYSE that temporarily reduced to $50 million the minimum required average total market capitalization and stockholders’ equity amounts to be used in determining compliance with the NYSE’s continued listing standards. Unless extended, the rule amendment is scheduled to expire on October 31, 2009.
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medici1248


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  Subject Author Rating Time of Post (ET)  
 
Capital Raise and NYSE Delisting Potential
medici1248 (1 Rating) 7-Oct-09 02:36 pm  
 
shove your scare BS up your azz.
sum_dum_chu... (1 Rating) 7-Oct-09 03:40 pm  
 
AZZ is a good play - look into it. Better up...
medici1248 (1 Rating) 7-Oct-09 07:29 pm  
 
18 months from Jan.09 would be May,June 2010 time ...
magnifi101 (1 Rating) 7-Oct-09 04:18 pm  
 
18 months from Jan.09 would be May,June 2010 time ...
magnifi101 (1 Rating) 7-Oct-09 04:20 pm  
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Magnetek Inc. (MAG)

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