US-based designer and manufacturer of telecommunications and cable television video transmission technology, Blonder Tongue Laboratories, Inc. (NYSE American: BDR) has announced its delisting from the NYSE American and commencement of trading on the OTCQB.
The Company previously received written notification from NYSE American LLC stating that the staff of NYSE Regulation had determined to commence proceedings to delist the common stock of the Company from the Exchange. NYSE Regulation staff has determined that the Company is no longer suitable for listing pursuant to Section 1009(a) of the NYSE American Company Guide as the Company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i), (ii) and (iii) of the Company Guide by the end of the maximum 18-month compliance plan period, which expired on December 10, 2021.
The Company appealed such determination, and a hearing was scheduled to take place on June 28, 2022. On June 24, 2022, after the Company’s Board of Directors determined the Company will not be able to regain compliance with the above referenced listing standards in the short term, the Company cancelled the appeal hearing and requested its Common Stock be withdrawn from being listed on the Exchange.
The Company expects the Common Stock to commence trading under the symbol “BDRL” on the OTCQB marketplace operated by OTC Markets Group Inc. The Company expects the Common Stock to commence trading on the OTCQB on June 27, 2022.
Blonder Tongue Laboratories, Inc. provides service operators and systems integrators with solutions for the management and distribution of digital video, IPTV and high-speed data services, as well as RF broadband distribution over fiber, IP, and Coax networks for homes and businesses.