Airspan Announces Delisting Timing

Airspan Networks announced that the last day of trading for its common stock on the Nasdaq Global Market will be April 9, 2009

April 8, 2009

1 Min Read

BOCA RATON, Fla. -- Airspan Networks Inc. (NASDAQ: AIRN), a leading provider of WiMAX based broadband wireless access networks, today announced that the last day of trading for its common stock on the NASDAQ Global Market will be April 9, 2009, and that following the planned filing of a Form 25 on April 10, 2009, the common stock will be suspended from trading on NASDAQ as of the opening of business on April 13, 2009. Airspan expects its stock will continue to trade in the Pink Quote System of Pink OTC Markets Inc., under its existing symbol "AIRN."

Airspan plans to continue to provide quarterly, annual and other information regarding the Company's performance to its shareholders via the OTC Disclosure and News Service and through its website. Airspan will initially trade in the Current Information tier of the Pink Quote System.

State law shareholder voting rights will not be affected by the change in trading market and the Company plans to continue to hold annual shareholder meetings as required by state law.

"We expect to generate significant cost savings from making this move, which will allow us to improve our financial results," said Airspan CEO Eric Stonestrom. "However, we currently plan to continue to provide regular quarterly financial and other information to shareholders through releases following our delisting and deregistration."

Airspan Networks Inc. (Nasdaq: AIRN)

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