At the end of January, Nasdaq notified Vyyo it had fallen below its threshold for listing on the exchange – a valuation of $50 million. Vyyo had a month to get back in compliance – in other words, raise its stock above the threshold value.
Vyyo could not, and thus is subject to delisting. Under those circumstances, a company can either acquiesce to having its stock delisted, or challenge the decision.
Vyyo has chosen the latter course. During the hearing process, delisting of Vyyo's common stock will be stayed and it will continue to be traded on The Nasdaq Global Market until the exchange makes a final decision.
During the hearing process, Vyyo may seek to transfer the listing of its common stock to The Nasdaq Capital Market if it meets the listing requirements there, according to the company.
Vyyo recently shut down its flagging wireless operation, leaving it with its spectrum overlay business for cable, essentially putting itself back in start-up mode (story here).
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