WorldSpace to be Delisted from Nasdaq
By Staff Writer | October 28, 2008
[Satellite Today 10-28-08] The Nasdaq Stock Market sent a notice to WorldSpace Inc. Oct. 21 that the company will be delisted, WorldSpace announced Oct. 27.
In its letter to WorldSpace, Nasdaq cited the company as non-compliant with marketplace rules because its market value of listed securities for 10 consecutive trading days had fallen been below the minimum $50 million requirement for continued inclusion.
WorldSpace does not intend to appeal Nasdaq’s determination, and expects its common stock trading will be suspended at the opening of business Oct. 30.