Raser Technologies to withdraw from NYSE and list on OTCBB
Raser Technologies to delist from NYSE on non-compliance with listing standards, now to commence trading on the OTCBB on November 3, 2010.
In a release by the company, Raser Technologies reports that as already announced in April 2010, the company “fell below the continued listing standards on the New York Stock Exchange (NYSE) and was unable to cure the non-compliance within the required timeframe. Raser submitted a business plan to the NYSE requesting additional time to return to compliance. However, after reviewing these materials, the NYSE decided to proceed with suspension of trading, and the NYSE notified Raser of its intent to suspend trading of Raser’s common stock prior to the market opening on November 3, 2010.
Raser will continue to trade on the NYSE through November 2, 2010. It is anticipated Raser will commence trading on the OTCBB on November 3, 2010. Therefore, Raser anticipates there will be no interruption in the trading of its common stock. Raser will be assigned a new ticker symbol the day before it begins trading on the OTCBB. Raser will issue another press release announcing the new ticker symbol as soon as it is known by Raser.”
Source: Raser Technologies release