Wave Regains Compliance With NASDAQ Marketplace Rule
LEE, MA -- (Marketwired) -- 07/24/13 -- Wave Systems Corp. (WAVX) announced today that it received notice from the NASDAQ Listing Qualifications Department that Wave has regained compliance with NASDAQ Marketplace Rule 5550(a)(2) relating to the minimum $1.00 per share bid price of the company's Class A Common Stock. Shares of the company's Class A Common Stock maintained a closing bid price of at least $1.00 per share for the required ten consecutive days, from July 9 through July 22, 2013.
Because the company has regained compliance with the minimum bid price rule, a previously scheduled hearing with the NASDAQ Hearing Panel has been deemed moot and will not be held.
About Wave Systems Corp.
Wave Systems reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.
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Source: Wave Systems Corp.