Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.
July 26, 2006
HUNTSVILLE, Ala. -- ITC^DeltaCom, Inc. (NASDAQ:ITCD) ("ITC^DeltaCom" or the "Company"), a leading provider of integrated communications services to customers in the southeastern United States, today announced that it has been notified by the Nasdaq Stock Market that the Company's common stock will be delisted from the Nasdaq Global Market effective as of open of business on Thursday, July 27, 2006. The common stock will be delisted because the Company did not maintain a minimum market value of publicly held shares of $15 million as required by Nasdaq Marketplace Rule 4450(b)(3). NASDAQ's requirement for the minimum market value of publicly held shares excludes the market value of outstanding shares of common stock held by officers, directors and 10% stockholders, who collectively own a majority of ITC^DeltaCom's total outstanding common stock.
ITC^DeltaCom will continue to file all required reports with the Securities and Exchange Commission and expects to be eligible for quotation in the OTC Bulletin Board through one or more market makers. The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last sale prices and volume information in over-the-counter securities. If the Company's common stock is not quoted on the OTC Bulletin beginning on July 27, the common stock will trade in the "Pink Sheets" beginning on July 27, under the symbol "ITCD." No assurance can be given that market makers currently making a market in the Company's common stock will continue to make a market in the common stock.
ITC^DeltaCom Inc. (Nasdaq: ITCD)
You May Also Like
Rethinking AIOPs — It's All About the DataMar 12, 2024
SCTE® LiveLearning for Professionals Webinar™ Series: Fiddling with Fixed WirelessMar 21, 2024
SCTE® LiveLearning for Professionals Webinar™ Series: Cable and 5G: The Odd Couple?Apr 18, 2024
SCTE® LiveLearning for Professionals Webinar™ Series: Delivering the DAA DifferenceMay 16, 2024