Oct 5 2009
Urologix®, Inc. (NASDAQ:ULGX), received approval on October 1, 2009 from The Nasdaq Stock Market to transfer the listing of its common stock from The Nasdaq Global Market to The Nasdaq Capital Market. This resolves the Notice of Deficiency announced on September 17, 2009. The Company’s common stock will continue to be traded under the symbol “ULGX” and trading of its common stock will be unaffected by this transfer. The transfer to The Nasdaq Capital Market will be effective as of the opening of business on October 5, 2009.
The Nasdaq Capital Market is one of three tiers of The Nasdaq Stock Market and is a continuous trading market that operates in substantially the same manner as The Nasdaq Global Market. All companies listed on The Nasdaq Capital Market must meet certain financial requirements and adhere to Nasdaq’s corporate governance standards.
The Company’s decision to transfer to The Nasdaq Capital Market is in response to a letter dated September 17, 2009 from The Nasdaq Stock Market stating that the Company’s stockholders’ equity at June 30, 2009 was less than the $10 million minimum required for continued listing on The Nasdaq Global Market under Marketplace Rule 5450(b)(1)(A). As previously disclosed, The Nasdaq Stock Market gave the Company the opportunity to either submit a plan to regain compliance with the requirements of The Nasdaq Global Market or transfer its listing to The Nasdaq Capital Market. The Company determined to proceed with a transfer to The Nasdaq Capital Market.