Nasdaq Grants Wave Extension Until February to Comply With Market Value Rule; Wave to Be Transferred to Nasdaq Capital Market

Wave Systems Corp. announced today that it received notification from the Nasdaq Hearings Panel that shares of the company's common stock will be transferred from the NASDAQ Global Market to the NASDAQ Capital Market, effective with the opening of trading tomorrow, Wednesday, December 10, 2008. Wave's common stock will continue to trade under the ticker symbol "WAVX."

As previously announced, the company has not been in compliance with the Market Value Rule requiring a minimum $50 million market value of listed securities for continued inclusion on the NASDAQ Global Market. If the company cannot demonstrate compliance with all of the required continued listing requirements of the NASDAQ Capital Market, including the $35 million market value of listed securities requirement by February 17, 2009, Wave's shares of common stock will be subject to delisting. read more

Source: Wave Systems Corp