On December14, 2016, Voltari Corporation (the “Company”) received written notification from The Nasdaq Stock Market LLC (“NASDAQ”) indicating that NASDAQ has determined to delist the Company’s common stock from the NASDAQ Capital Market, effective with the open of business on December 23, 2016. NASDAQ has also informed the Company that it will file a Form 25-NSE with the Securities and Exchange Commission (the “SEC”) to remove the Company’s common stock from listing on NASDAQ. As previously disclosed, on June 14, 2016, the Company received a notice from NASDAQ indicating it was not in compliance with NASDAQ’s minimum Market Value of Listed Securities requirement under Listing Rule 5550(b)(2). The delisting is the result of the Company’s failure to regain compliance with this requirement. The Company will not appeal the NASDAQ staff’s determination to delist the Company’s common stock.
The Company has been advised by OTC Markets Group Inc. that its common stock will be immediately eligible for trading on the OTCQB marketplace effective with the open of business on December 23, 2016. The Company’s common stock will continue to trade under the symbol “VLTC”.
Forward-Looking Statements
Certain statements in this Current Report on Form 8-K constitute forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that may cause such forward-looking statements not to be realized. Factors that could cause actual results to differ materially from the forward-looking statements include, without limitation, changes to the listing standards, requirements, policies or procedures of the NASDAQ Capital Market or the OTCQB marketplace, fluctuations in the Company’s general financial and operating results, changes in the Company’s liquidity and capital resources, fluctuations in the market price of the Company’s securities, changes in the capital markets, competition, or the commercial real estate investment business of the Company or such industry as a whole. Additional factors include but are not limited to those described under “Risk Factors” in our Annual Report on Form 10-K, as amended by Form 10-K/A, for the year ended December 31, 2015, and our subsequent Quarterly Reports on Form 10-Q, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this report and in our Annual Report on Form 10-K, as amended by Form 10-K/A, Forms 10-Q and other filings. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
About Voltari Corporation (NASDAQ:VLTC) Voltari Corporation is engaged in the business of acquiring, financing and leasing commercial real properties. The Company owns approximately one commercial real property in Long Branch, New Jersey, which it leases to JPMorgan Chase Bank, N.A. (Chase) pursuant to a triple net lease (the Long Branch Lease). The Company intends to acquire additional properties primarily in the Northeast United States. The Company intends to lease such properties pursuant to double net or triple net leases. The Company intends to explore additional strategic opportunities from time to time, which may include opportunities with respect to its intellectual property, investments in various industries or acquisitions. The Company’s subsidiary is Voltari Real Estate Holding LLC.
Voltari Corporation (NASDAQ:VLTC) Recent Trading Information Voltari Corporation (NASDAQ:VLTC) closed its last trading session down -0.25 at 2.45 with 656,792 shares trading hands.
