Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
November 25, 2020
arrowPress Releases

If you enjoy reading this site, you might also want to check out these UBM Tech sites:

Atari To Fight NASDAQ Delisting Notice

Atari To Fight NASDAQ Delisting Notice

September 1, 2006 | By Simon Carless

September 1, 2006 | By Simon Carless
    Post A Comment
More: Console/PC

U.S. publisher Atari has anounced that it is out of compliance with the NASDAQ stock market's rule that its stock maintain a $1.00 price, but has vowed to fight any attempts to delist it from the market - another blow for the struggling company were it to come to pass.

Atari explained that "unless the bid price of our common stock closed at $1.00 per share or more for a minimum of 10 consecutive business days prior to August 30, 2006, the common stock would be subject to delisting. The price of the common stock did not reach that level" - it's currently listed at $0.69, in fact.

However, the company intends to request a hearing before a NASDAQ Listing Qualifications Panel, and will remain listed on The NASDAQ Global Market until the Panel issues its decision following the hearing (the date of which is not yet known). Atari expects the hearing to be held in approximately 25 to 45 days.

Atari's most recent financials showcased reduced revenue but a reduced loss thanks to its recent IP sales, and it is unclear whether long-term debts from parent firm Infogrames and continues IP divestiture augur well for the company's long-term future.

Related Jobs

Square Enix Co., Ltd.
Square Enix Co., Ltd. — Tokyo, Japan

Experienced Game Developer
Deep Silver Volition
Deep Silver Volition — Champaign, Illinois, United States

Senior Technical Designer
Purdue University
Purdue University — West Lafayette, Indiana, United States

Assistant Professor in Game Design and Development
Sucker Punch Productions
Sucker Punch Productions — Bellevue, Washington, United States

Senior Camera Programmer

Loading Comments

loader image