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| IKAN > SEC Filings for IKAN > Form 8-K on 26-Sep-2012 | All Recent SEC Filings |
26-Sep-2012
Other Events, Financial Statements and Exhibits
On September 26, 2012, Ikanos Communications (the "Company") announced that it has received a notice from The NASDAQ Stock Market ("NASDAQ") confirming that the Company has regained compliance with the $1.00 minimum bid price requirement for continued listing on The NASDAQ Capital Market.
The Company had previously announced that it had received notice from NASDAQ on December 16, 2011 that the bid price of the Company's common stock had closed below the minimum $1.00 per share requirement over the previous 30 consecutive business days and, as a result, the Company was not in compliance with Listing Rule 5550(a)(2) (the "Rule"). The Company was provided with 180 days, or until June 13, 2012, to regain compliance with the Rule. On May 15, 2012, the Company submitted an application to transfer its securities to The NASDAQ Capital Market. In accepting the Company's application, NASDAQ determined that, upon transfer to The NASDAQ Capital Market, the Company was eligible for an additional 180 calendar day period, or until December 10, 2012, to meet the minimum $1.00 bid price per share requirement for The NASDAQ Capital Market. On September 26, 2012, NASDAQ confirmed to the Company that, as a result of the Company's common stock closing with a bid price of at least $1.00 for at least ten consecutive days, that the Company has come back into compliance with the minimum bid price rule and the matter is now closed.
A copy of the Company's press release is filed herewith as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
(d) Exhibits
Exhibit
No. Description
99.1 Press Release dated September 26, 2012.
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