Airspan Networks Holdings Receives Letter of Non-Compliance From NYSE American
15 6월 2023 - 5:14AM
Business Wire
Today, Airspan Networks Holdings Inc. (NYSE:MIMO) (“Airspan”), a
provider of ground-breaking, disruptive software and hardware for
5G networks and a pioneer in end-to-end Open RAN solutions,
announced that it has received a letter (the “Letter”) from the
NYSE American LLC (the “NYSE American”) stating that it is not in
compliance with the continued listing standards set forth in
Sections 1003(a)(i) and (ii) of the NYSE American Company Guide
(the “Company Guide”). Section 1003(a)(i) requires a listed company
to have stockholders’ equity of $2 million or more if the listed
company has reported losses from continuing operations and/or net
losses in two of its three most recent fiscal years. Section
1003(a)(ii) requires a listed company to have stockholders’ equity
of $4 million or more if the listed company has reported losses
from continuing operations and/or net losses in three of its four
most recent fiscal years. The Company reported a stockholders’
deficit of $99.9 million as of March 31, 2023, and has had losses
from continuing operations and/or net losses in each of its three
most recent fiscal years.
However, Section 1003(a) states that the NYSE American will not
normally consider suspending dealings in, or removing from the
list, the securities of a listed company which is below standards
(i) and (ii) of Section 1003(a) if the listed company is in
compliance with the following two standards: (1) total value of
market capitalization of at least $50 million; or total assets and
revenue of $50 million each in its last fiscal year, or in two of
its last three fiscal years; and (2) the listed company has at
least 1.1 million shares publicly held, a market value of publicly
held shares of at least $15 million and 400 round lot shareholders.
As of June 9, 2023, the Company was in compliance with the first
standard because it had total assets and total revenue of at least
$50 million in its last fiscal year and was in compliance with the
second standard, except that the current market value of publicly
held shares was below $15 million.
Accordingly, the Letter states that the Company must submit a
plan of compliance (the “Plan”) by July 9, 2023, addressing how it
intends to regain compliance with Sections 1003(a)(i) and (ii) of
the Company Guide by December 9, 2024. The Company intends to fully
comply with the NYSE American’s requests and will submit its Plan
accordingly.
The Company’s stock will continue to be listed on the NYSE
American while the Company evaluates its various alternatives. The
Company’s receipt of such notification from the NYSE American does
not affect the Company’s business, operations or reporting
requirements with the U.S. Securities and Exchange Commission.
About Airspan
Airspan Networks Holdings Inc. (NYSE American: MIMO) is a
U.S.-based provider of groundbreaking, disruptive software and
hardware for 5G networks, and a pioneer in end-to-end Open RAN
solutions that provide interoperability with other vendors. As a
result of innovative technology and significant R&D investments
to build and expand 5G solutions, Airspan believes it is
well-positioned with 5G indoor and outdoor, Open RAN, private
networks for enterprise customers and industrial use applications
and CBRS solutions to help mobile network operators of all sizes
deploy their networks of the future, today. With over one million
cells shipped to 1,000 customers in more than 100 countries,
Airspan has global scale. For more information, visit
www.airspan.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
about future financial and operating results, Airspan’s plans,
objectives, expectations and intentions with respect to future
operations, products and services. Any such forward-looking
statements are based upon the current beliefs and expectations of
Airspan’s management and are inherently subject to significant
business, economic and competitive uncertainties and contingencies,
many of which are difficult to predict and generally beyond
Airspan’s control.
Actual results, performance or achievements may differ
materially, and potentially adversely, from any forward-looking
statements and the assumptions on which those forward-looking
statements are based. All information set forth herein speaks only
as of the date hereof in the case of information about Airspan or
the date of such information in the case of information from
persons other than Airspan, and Airspan disclaims any intention or
obligation to update any forward-looking statements as a result of
developments occurring after the date of this communication.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230614324926/en/
Media Contact: mediarelations@airspan.com
Investor Relations Contact: Brett Scheiner +1 561-893-8660
IR@airspan.com
Airspan Networks (AMEX:MIMO)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Airspan Networks (AMEX:MIMO)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024