Chyron Gets NASDAQ Delisting Notice

13 Nov

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On November 7, 2012, the Nasdaq Stock Market (“NASDAQ”) notified Chyron Corporation that it no longer complies with NASDAQ Listing Rule 5450(a)(1) (the “Minimum Bid Price Rule”), as the bid price of the Company’s common stock closed below the minimum $1.00 per share for the 30 consecutive business days prior to the date of the letter.

In accordance with NASDAQ Listing Rule 5810(c)(3)(A)(ii), the Company will be provided an initial grace period of 180 days, or until May 6, 2013, to regain compliance with the Minimum Bid Price Rule. The Company may regain compliance with the Minimum Bid Price Rule if the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days at any time before May 6, 2013. The NASDAQ notification has no effect at this time on the listing of the Company’s common stock on the NASDAQ Global Market.

If we do not regain compliance with the Minimum Bid Price Rule by May 6, 2013, NASDAQ will provide written notification to us that our common stock will be delisted. At that time, we may appeal NASDAQ’s delisting determination to a NASDAQ Listing Qualifications Panel. Alternatively, we may be eligible for an additional grace period of 180 days if we satisfy all of the requirements, other than the minimum bid price requirement, for listing on the NASDAQ Capital Market set forth in NASDAQ Listing Rule 5505.

The Company intends to monitor the bid price for its common stock between now and May 6, 2013 and will consider various options available to the Company if its common stock does not trade at a level that is likely to regain compliance.

Chyron just reported declining revenues for the third quarter and year to date — seeĀ Chyron 2012 Q3 & Year to Date Revenue Down on 2011

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