SPANISH BROADCASTING SYSTEM, INC. (NASDAQ:SBSA) Files An 8-K Other Events

ME Staff 8-k
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SPANISH BROADCASTING SYSTEM, INC. (NASDAQ:SBSA) Files An 8-K Other Events
Item 8.01.Other Events.

On September 15, 2017, Spanish Broadcasting System, Inc. (the "Company"), received a written notice from OTC Markets ("OTC"), advising us that our market capitalization had stayed below $5 million for more than 30 consecutive calendar days and that it no longer met the Standards for Continued Qualification for the OTCQX® Best Market (U.S. Tier) (“OTCQX U.S.”) as per the OTCQX Rules for U.S. Companies. OTC further notified us that a cure period of 180 calendar days to regain compliance had begun, during which the minimum criteria must be met for 10 consecutive trading days.

The 180-calendar day grace period expires March 14, 2018. If the Company's market capitalization has not been at or above $5 million for 10 consecutive trading days by that time, then the Company has the option to move its Class A common stock from OTCQX U.S. to the OTC’s OTCQB Venture Market, if not, then its Class A common stock will be moved from OTCQX U.S. to OTC Pink.


About SPANISH BROADCASTING SYSTEM, INC. (NASDAQ:SBSA)

Spanish Broadcasting System, Inc. (SBS) is a Spanish-language media and entertainment company with radio and/or television stations in the United States Hispanic markets, including Puerto Rico. The Company operates in two segments: radio and television. The Company owns and operates radio stations in approximately six Hispanic markets in the United States: Los Angeles, New York, Puerto Rico, Chicago, Miami and San Francisco. Its television stations and related affiliates operate under the MegaTV brand. It produces and distributes original Spanish-language content, including radio programs, television shows, music and live entertainment through its multi-media platforms. It also maintains multiple bilingual Websites, including www.lamusica.com, Mega.tv and various station Websites that provide content related to Latin music, entertainment, news and culture, as well as the LaMusica mobile application. LaMusica also streams its stations’ content.