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Proxim Warned of Delisting

Proxim Corp. receives Nasdaq delisting notification

June 7, 2005

1 Min Read

SUNNYVALE, Calif. -- Proxim Corporation (Nasdaq: PROX - News) announced today that on June 3, 2005, the Company received a letter from The Nasdaq Stock Market, Inc. ("Nasdaq") notifying the Company that for the 30 consecutive trading days preceding the date of the letter, the bid price of the Company's common stock had closed below the $1.00 per share minimum required for continued inclusion on the Nasdaq National Market pursuant to Nasdaq Marketplace Rule 4450(a)(5). The letter further notified the Company that, in accordance with Nasdaq Marketplace Rule 4450(e)(2), the Company will be provided 180 calendar days, or until November 30, 2005, to regain compliance with the minimum bid price requirement. Compliance will be achieved if the bid price per share of the Company's common stock closes at $1.00 per share or greater for a minimum of ten (10) consecutive trading days prior to November 30, 2005.

If compliance with Nasdaq's Marketplace Rules is not achieved by November 30, 2005 and if the Company is not eligible for an additional compliance period, Nasdaq will provide notice that the Company's common stock will be delisted from the Nasdaq National Market. In the event of such notification, the Company would have an opportunity to appeal Nasdaq's determination or to apply to transfer its common stock to the Nasdaq SmallCap Market.

Proxim Corp.

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