SBS Gets Extension From NASDAQ Delisting
February 17, 2010 at 4:13 AM (PT)
SPANISH BROADCASTING SYSTEM has received notice from NASDAQ indicating that NASDAQ has granted the Company's request for an extension of time to regain compliance with the $1 per share minimum bid price requirement set forth in NASDAQ Listing Rule 5450(a)(1) by JUNE 7th.
SBS will be required to, on or before JUNE 7th, have a closing bid price of $1.00 or more for a minimum of ten consecutive trading days. In the event that the Company does not evidence compliance with the Rule and all other requirements for continued listing, its securities may be delisted from THE NASDAQ STOCK MARKET.