SOURCE: Wave Systems Corp.

Wave Systems Corp.

January 19, 2016 16:30 ET

Wave Systems Regains Compliance With NASDAQ Bid Price Requirement

LEE, MA--(Marketwired - Jan 19, 2016) -  Wave Systems Corp. (NASDAQ: WAVX), an enterprise security software provider, announced today that it has received formal notification from The Nasdaq Stock Market that the Company has evidenced compliance with the $1 bid price requirement, thereby resulting in Nasdaq's determination to continue the listing of Wave's securities on The Nasdaq Capital Market.

Separately, Wave remains subject to a grace period to evidence compliance with the minimum $35 million market value of listed securities requirement for continued listing on The Nasdaq Capital Market, which expires on February 8, 2016. In order to satisfy that requirement, Wave must evidence a market value of listed securities of at least $35 million for a minimum of 10 consecutive business days. In the event the Company does not regain compliance with the rule by February 8, 2016, the Company may request a hearing to address the deficiency and to request a further extension from the Hearings Panel. The request for a hearing would stay any action by the Nasdaq Staff pending the ultimate conclusion of the hearing process.

For more information about Wave Systems, visit: www.wave.com

About Wave Systems Corp.
Wave Systems reduces the complexity, cost and uncertainty of 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 hardware security capabilities built directly into endpoint computing platforms themselves. Wave has been among the foremost experts on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.

Contact Information

  • Company:
    Walter A. Shephard
    CFO
    413-243-1600
    Email Contact

    Investor Relations:
    Catalyst Global
    David Collins, Chris Eddy
    212-924-9800
    Email Contact