SOURCE: Proxim Wireless Corporation

February 28, 2008 16:00 ET

Proxim Wireless Receives Notice of Bid Price Non-Compliance From NASDAQ

SAN JOSE, CA--(Marketwire - February 28, 2008) - Proxim Wireless Corporation (NASDAQ: PRXM), a leader in core-to-client solutions for broadband wireless networks, today announced that it received a notice from The NASDAQ Stock Market on February 22, 2008 stating that, for the last 30 consecutive business days, the bid price of the company's common stock closed below the minimum $1.00 per share requirement for continued inclusion under NASDAQ Marketplace Rule 4310(c)(4).

The NASDAQ notice also states that:

--  If, at any time before August 20, 2008, the bid price of the company's
    common stock closes at $1.00 per share or more for a minimum of 10
    consecutive business days, NASDAQ will provide written notification that
    the company complies with NASDAQ Marketplace Rule 4310(c)(4).
    
--  If compliance with that rule cannot be demonstrated by August 20,
    2008, NASDAQ will determine whether the company meets the NASDAQ Capital
    Market initial listing criteria set forth in NASDAQ Marketplace Rule
    4310(c), except for the bid price requirement.  If the company meets the
    initial listing criteria, NASDAQ will notify the company that it has been
    granted an additional 180 calendar day compliance period.
    

About Proxim Wireless

Proxim Wireless Corporation (NASDAQ: PRXM) is a leader in core-to-client solutions for broadband wireless networks. Our systems enable a variety of wireless applications including security and surveillance, VoIP, last mile access, enterprise LAN and Point to Point backhaul. We have shipped more than 1.5 million wireless devices to more than 200,000 customers worldwide. Proxim is ISO-9001 certified. Information about Proxim can be found at www.proxim.com. For investor relations information, e-mail ir@proxim.com or call 408-542-5303.

Contact Information

  • Contact Information:
    Geoff Smith
    VP, Marketing and Business Development
    Proxim Wireless
    +1 408 731-2790
    gsmith@proxim.com

    Brian Sereda
    Investor Relations
    Proxim Wireless
    +1 408 542-5303
    ir@proxim.com