Giga-tronics Incorporated (NASDAQ:GIGA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Extension of Time to Gain Compliance Before Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On April 20, 2017, Giga-tronics Incorporated (the “Company”) received a notification letter from The NASDAQ Stock Market (“NASDAQ”) advising the Company that an extension to August 7, 2017, had been granted to take the steps necessary to regain compliance with NASDAQ listing rule 5550(b) and promptly thereafter to file a report describing the transaction or event enabling the company to satisfy the applicable requirement for continued listing.

On February 8, 2017, the Company received a notification letter from NASDAQ advising the Company of its failure to comply with the required minimum of either $2,500,000 in shareholders’ equity, $35,000,000 market value of listed securities or $500,000 net income from continuing operations for continued listing on The Nasdaq Capital Market, to NASDAQ listing rule 5550(b).

NASDAQ listing rules provided the Company with 45 calendar days in which to submit a plan to regain compliance. The Company submitted a plan on March 24, 2017, and NASDAQ notified the Company on April 20, 2017 of NASDAQ’s acceptance of the plan and the granting of an extension.

There can be no assurance that the Company’s plans to comply with the required minimum of shareholders’ equity, market value of listed securities or net income from continuing operations will be successful by August 7, 2017.  If the Company’s Common Stock ceases to be listed for trading on the Nasdaq Capital Market, the Company expects that its Common Stock would be traded on the Over-the-Counter Bulletin Board on or about the same day.

About Giga-tronics Incorporated (NASDAQ:GIGA)

Giga-tronics Incorporated (Giga-tronics) includes the operations of the Giga-tronics Division and Microsource Inc. (Microsource). The Company operates through two segments: Giga-tronics Division and Microsource. Giga-tronics segment designs, manufactures and markets the Advanced Signal Generator (ASG) for the electronic warfare market and switching systems that are used in automatic testing systems primarily in aerospace, defense and telecommunications. The Company’s Giga-tronics segment produces modular signal sources, up-converters, receivers and down-converters in the AXIe format covering a radio frequency (RF) range of 100 megahertz to 18 gigahertz. The end user markets for these products are divided into three segments: RADAR Target Generation, Threat simulation and Surveillance. Microsource primarily develops and manufactures Yttrium, Iron, Garnet (YIG) radio detection and ranging (RADAR) filters used in fighter jet aircraft for two prime contractors.

Giga-tronics Incorporated (NASDAQ:GIGA) Recent Trading Information

Giga-tronics Incorporated (NASDAQ:GIGA) closed its last trading session down -0.011 at 0.814 with 102,168 shares trading hands.