SOURCE: Wave Systems Corp.

Wave Systems Corp.

September 22, 2015 06:35 ET

Wave Systems Granted Extension to Achieve Compliance with NASDAQ Minimum Bid Price Requirement

LEE, MA--(Marketwired - Sep 22, 2015) - Wave Systems Corp. (NASDAQ: WAVX) today announced that on September 16, 2015, the Company was notified that the NASDAQ Listing Qualifications Panel (the "Panel") had determined to grant the Company's request for an extension through January 12, 2016, to evidence compliance with the $1.00 minimum closing bid price requirement.

To achieve compliance, the Company must evidence a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days on or before January 12, 2016. The Company is diligently working to evidence compliance with the terms of the Panel's decision, however, there can be no assurance that the Company will be able to do so in a timely manner.

About Wave Systems
Wave Systems Corp. reduces the complexity, cost and uncertainty of authentication and data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave is a leading expert in this growing trend and is leading the way with first-to-market solutions and helped shape standards through its board seat on the Trusted Computing Group.

Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the company's ability to retain its listing on the Nasdaq Capital Market. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements.

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