learcario
Forumer storico
6-May-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tra
Item 3.01 Notice of Delisting or Failure to Satisfy a Rule or Standard; Transfer of Listing. As previously reported, on March 1, 2009, Spansion Inc. (the "Company") and certain of its direct and indirect subsidiaries filed voluntary bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware, seeking relief under the provisions of chapter 11 of title 11 of the United States Bankruptcy Code (the "Bankruptcy Filing").
On March 4, 2009, March 16, 2009 and April 16, 2009, the Company received notices from the NASDAQ Listing Qualifications Department explaining that the Company's securities would be delisted from The NASDAQ Stock Market ("NASDAQ") for failure to satisfy NASDAQ Marketplace Rules (i) 4300, IM-4300, and 4450(f) (as then in effect), (ii) 4310(c)(14) (as then in effect) and (iii) 5210(d), respectively (collectively, the "Delisting"). The Company appealed the Delisting before a NASDAQ Hearings Panel on April 23, 2009.
On May 5, 2009, the NASDAQ Hearings Panel denied the Company's request for continued listing on NASDAQ and informed the Company that it will suspend trading of shares of the Company's common stock effective at the open of business on Thursday, May 7, 2009. The Company does not intend to request a review of this decision, and expects NASDAQ to file an application on Form 25-NSE with the Securities and Exchange Commission to effect the Delisting.
A copy of the Company's press release announcing receipt of the NASDAQ Hearing Panel determination is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tra
Item 3.01 Notice of Delisting or Failure to Satisfy a Rule or Standard; Transfer of Listing. As previously reported, on March 1, 2009, Spansion Inc. (the "Company") and certain of its direct and indirect subsidiaries filed voluntary bankruptcy petitions in the United States Bankruptcy Court for the District of Delaware, seeking relief under the provisions of chapter 11 of title 11 of the United States Bankruptcy Code (the "Bankruptcy Filing").
On March 4, 2009, March 16, 2009 and April 16, 2009, the Company received notices from the NASDAQ Listing Qualifications Department explaining that the Company's securities would be delisted from The NASDAQ Stock Market ("NASDAQ") for failure to satisfy NASDAQ Marketplace Rules (i) 4300, IM-4300, and 4450(f) (as then in effect), (ii) 4310(c)(14) (as then in effect) and (iii) 5210(d), respectively (collectively, the "Delisting"). The Company appealed the Delisting before a NASDAQ Hearings Panel on April 23, 2009.
On May 5, 2009, the NASDAQ Hearings Panel denied the Company's request for continued listing on NASDAQ and informed the Company that it will suspend trading of shares of the Company's common stock effective at the open of business on Thursday, May 7, 2009. The Company does not intend to request a review of this decision, and expects NASDAQ to file an application on Form 25-NSE with the Securities and Exchange Commission to effect the Delisting.
A copy of the Company's press release announcing receipt of the NASDAQ Hearing Panel determination is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
