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MTSN > SEC Filings for MTSN > Form 8-K on 14-Nov-2012All Recent SEC Filings

Show all filings for MATTSON TECHNOLOGY INC

Form 8-K for MATTSON TECHNOLOGY INC


14-Nov-2012

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stan


Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On November 8, 2012, Mattson Technology, Inc. (the "Company") received written notice from The NASDAQ Stock Market LLC ("NASDAQ") indicating that the Company is not in compliance with the $1.00 minimum bid price requirement for continued listing on the NASDAQ Global Select Market, as set forth in NASDAQ Listing Rule 5450(a)(1). As described in further detail below, the notice has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on the NASDAQ Global Select Market under the symbol "MTSN" at this time. However, the Company has a grace period of 180 calendar days, or until May 7, 2013, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for at least ten consecutive business days during this 180-day grace period.
The Company may have alternatives to obtain an extension and/or avoid a delisting. The Company intends to consider the available options to resolve the noncompliance with the minimum bid price requirement, but the Company has not yet made any determination at this time. There can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other NASDAQ listing criteria.


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