Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Alvarion Receives Delisting Notification From NASDAQ

Company Intends to Appeal NASDAQ’s Decision.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Alvarion

/By Ilan Shavit/ 

Alvarion(R) Ltd. (Nasdaq: ALVR; TASE: ALVR) , announced that on July 17, 2013, it received a letter from NASDAQ’s Listing Qualifications Department (the “Staff”) indicating that the Company’s ordinary shares are subject to delisting from NASDAQ in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, due to the Staff’s concerns stemming from the appointment of a Receiver to enforce liens registered against the Company, as well as the residual equity interest of the Company’s shareholders.

The Company intends to request a hearing before the NASDAQ Listing Qualification’s Panel to review the Staff’s decision. The request must be filed within 7 calendar days from receipt of the letter, or by July 24, 2013. Alvarion will remain listed on NASDAQ pending the outcome of the hearing. A hearing date has not been set.

Alvarion Ltd. provides optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of telecom operators, smart cities, security, and enterprise customers. Our innovative solutions are based on multiple technologies across licensed and unlicensed spectrums.

The share price fell 46% on Nasdaq yesterday to $0.24, giving a market cap of $1.9 million. while today, Alvarion’s share price corrected upwards by 16.2% on the TASE to NIS 0.87, after falling 53.9% yesterday.

 

Read More About Alvarion 

Alvarion : From 1 Billion Market Cap To Receivership

Alvarion Raises $3m From Israeli Private Investors

 

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.