Radio One Applies To Move Class A Shares Down To NASDAQ Capital Market
August 21, 2008 at 5:11 PM (PT)
RADIO ONE has applied to move its Class A shares from NASDAQ's primary market, the NASDAQ Global Market, to the small-cap NASDAQ Capital Market. The proposed move follows the company's shares falling below the minimum market value required for listing on the NASDAQ Global Market for 30 consecutive days; the company had 90 days from MAY 21st to get the shares above the $5 million mark, but failed to do so.
Class D shares, representing over 96% of the company's outstanding public float, are not affected by the move.