NETLIST,INC. (NASDAQ:NLST) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

ME Staff 8-k
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NETLIST,INC. (NASDAQ:NLST) 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.

On April 10, 2017, Netlist, Inc. (the “Company”) received a letter from The NASDAQ Stock Market (“NASDAQ”), notifying the Company that it no longer meets NASDAQ’s requirements for continued listing on the NASDAQ Capital Market under NASDAQ Listing Rule 5550(a)(2) (the “Bid Price Rule”) because, for a period of 30 consecutive business days, the bid price of the Company’s common stock has not closed at or above the minimum of $1.00 per share. The letter does not impact the Company’s listing on the NASDAQ Capital Market at this time, and the Company’s common stock remains listed on the NASDAQ Capital Market under the symbol NLST.

In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has been provided a compliance period of 180 calendar days, or until October 9, 2017, in which to regain compliance with the Bid Price Rule. To regain compliance, the Company’s common stock must have a closing bid price of at least $1.00 for a minimum of 10 consecutive business days during this 180-day compliance period. If the Company has not regained compliance with the Bid Price Rule by October 9, 2017, but meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for the NASDAQ Capital Market (other than the minimum bid price requirement), then the Company may be eligible for a second 180-day compliance period by providing to NASDAQ written notice of its intention to cure the deficiency during this second compliance period, by effecting a reverse stock split, if necessary. If it appears to NASDAQ staff that the Company will not be able to cure the deficiency during this second compliance period or if the Company is otherwise not eligible, the staff will provide notice to the Company that its securities will be subject to delisting, in which case the Company may appeal the delisting determination to a NASDAQ Hearings Panel.


About NETLIST, INC. (NASDAQ:NLST)

Netlist, Inc. designs, manufactures and sells a range of memory subsystems for datacenter, data storage and computing markets. The Company operates in the segment of design and manufacture of memory subsystems for the server, computing and communications markets. The Company’s memory subsystems consist of combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND flash), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs). The Company primarily markets and sells its products to original equipment manufacturer (OEM) customers, hyper scale datacenter operators and data storage vendors. The Company’s products include NVvault, HyperCloud, and specialty memory modules and flash-based products. NVvault is a memory subsystem that incorporates both DRAM and NAND flash in a single persistent dual-in line memory module (DIMM) solution.

NETLIST, INC. (NASDAQ:NLST) Recent Trading Information

NETLIST, INC. (NASDAQ:NLST) closed its last trading session 00.000 at 0.990 with 89,411 shares trading hands.