LIGHTPATH TECHNOLOGIES, INC. (NASDAQ:LPTH) 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 Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
LIGHTPATH TECHNOLOGIES, INC. (NASDAQ:LPTH) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On July 15, 2019, LightPath Technologies, Inc. (the “Company”) received notification from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2), because the closing bid price of the Company’s Class A common stock (the “Common Stock”) was below $1.00 per share for 30 consecutive trading days. The notification does not impact the listing of the Company’s Common Stock on The Nasdaq Capital Market at this time.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, or until January 13, 2020, to regain compliance with the minimum bid price requirement. During this period, the Company’s Common Stock will continue to trade on The Nasdaq Capital Market. If at any time before January 13, 2020 the bid price of the Company’s Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with this minimum bid price requirement.
In the event the Company does not regain compliance by January 13, 2020, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify for the additional 180-day period, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Company.
On July 18, 2019, the Company issued a press release regarding this notification. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)
LIGHTPATH TECHNOLOGIES INC Exhibit
EX-99.1 2 lpth_ex991.htm PRESS RELEASE Blueprint Exhibit 99.1 For Immediate Release LightPath Technologies Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency ORLANDO,…
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EX-99.1 2 lpth_ex991.htm PRESS RELEASE Blueprint Exhibit 99.1 For Immediate Release LightPath Technologies Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency ORLANDO,…
To view the full exhibit click
here
About LIGHTPATH TECHNOLOGIES, INC. (NASDAQ:LPTH)
LightPath Technologies, Inc. is a manufacturer and integrator of families of precision molded aspheric optics, fiber-optic collimator, GRADIUM glass lenses and other optical materials used to produce products that manipulate light. The Company designs, develops, manufactures and distributes optical components and assemblies utilizing the optical processes and manufacturing technologies. The Company also performs research and development for optical solutions for the traditional optics markets and communications markets. The Company’s products are incorporated into a range of applications by its customers in various industries, including defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors.