15 Sep Sonic Foundry says listing transferred to Nasdaq Capital Market
Madison, Wis. – Sonic Foundry, a Madison-based webcasting and knowledge-management company, has received approval from the NASDAQ Listings Qualifications Staff to transfer the listing of its shares from The Nasdaq Global Market to The Nasdaq Capital Market.
The transfer is effective at the open of the market on Tuesday, September 16.
Sonic Foundry was notified on March 10 that it did not meet the minimum bid price of $1 per share, and was notified on Sept. 9 that it had not regained compliance. The transfer to The Nasdaq Capital Market extends the requirement to achieve a minimum $1 bid price for at least 10 consecutive business days until March 9, 2009.
The Nasdaq Capital Market, one of three market tier designations for Nasdaq-listed stock, includes more than 500 companies.
Sonic Foundry told investors the Nasdaq Capital Market operates in “substantially the same manner” as The Nasdaq Global Market. The company will continue to trade under the symbol “SOFO.”