Dynasil Corporation of America's Announces Filing of Form 25 and Suspension of Trading of Common Stock on Nasdaq
NEWMAN, Mass., Aug. 19, 2019 (GLOBE NEWSWIRE) -- Dynasil Corporation of America (NASDAQ:DYSL) (the “Company”) today announced that, in connection with its previously announced delisting and deregistration transaction, it has filed a Form 25 Notification of Removal From Listing with the Securities and Exchange Commission (SEC) to delist the Company’s common stock from trading on the Nasdaq Capital Market. The Company’s common stock will cease trading on Nasdaq at the close of trading on Friday, August 23, 2019. The Company intends to file a Form 15 with the SEC to suspend the Company’s reporting obligations under the Securities Exchange Act of 1934, as amended, on or about August 29, 2019. The Company is implementing the delisting and deregistration transaction as approved by the Company’s stockholders at a Special Meeting of Stockholders held on August 7, 2019.
Following its delisting from Nasdaq, the Company’s common stock may be quoted on the OTC Pink Open Market (the “Pink Sheets”), a centralized electronic quotation service for over-the-counter securities, if market makers demonstrate an interest in trading in the Company’s common stock. However, the Company can give no assurance that trading in its common stock will commence or continue on the Pink Sheets or any other securities exchange or quotation medium.
About Dynasil Corporation of America
Dynasil Corporation of America develops, markets, manufactures, and sells detection, sensing, and analysis technology and optical components in the United States, Europe, and internationally. It operates through three segmnts: Optics, Innovation and Development, and Biomedical. The Optics segment supplies synthetic crystals, optical materials, components, and coatings that are used in devices, such as baggage scanners, medical imaging systems, optical instruments, lasers, analytical instruments, automotive components, semiconductor/electronic devices, spacecraft/aircraft components, and advertising displays in the medical, industrial, and homeland security/defense sectors. The Innovation and Development segment develops advanced technology in materials, sensors, and prototype instruments that detect or measure radiation, light, magnetism, or sound for use in security, medical, and industrial applications. The Biomedical segment engages in the development of tissue sealant products. The Company distributes its products through direct sales and marketing staff, as well as through manufacturer's representatives and distributors. Dynasil Corporation of America was founded in 1960 and is headquartered in Newton, Massachusetts.
This press release may contain forward-looking statements that are being made pursuant to the Private Securities Litigation Reform Act of 1995, which provides a “safe harbor” for forward-looking statements to encourage companies to provide prospective information so long as those statements are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those discussed in the statement. Such forward-looking statements include statements about the deregistration and delisting of the Company’s common stock and the perceived benefits and costs of the proposed transaction. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results, performance or achievements to differ materially from those described or implied in such forward-looking statements. Accordingly, actual results may differ materially from such forward-looking statements. The forward-looking statements relating to the transaction discussed above are based on the Company’s current expectations, assumptions, estimates and projections about the Company and involve significant risks and uncertainties, including the many variables that may impact the Company’s projected cost savings, variables and risks related to consummation of the proposed transaction, SEC regulatory review of the Company’s filings related to the proposed transaction, and the continuing determination of the Board of Directors and Special Committee that the proposed transaction is in the best interests of all stockholders. The Company assumes no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.
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