StockerYale Transferring to Nasdaq Capital Market
StockerYale Inc. of Salem, N.H., announced that it intends to transfer the listing of its common stock from the Nasdaq Global Market to the Nasdaq Capital Market, which has a lower cost and lower listing requirements, by April 18. The company's ticker symbol will remain STKR. StockerYale received notice April 3 from Nasdaq that its stockholders' equity of $9.5 million as of the end of 2007 was below the $10 million minimum requirement for listing on the Nasdaq Global Market and said it decided to transfer its listing instead of trying to regain compliance. The company was also notified at the end of December that its stock price was below the $1 minimum, and has until June to correct that deficiency. StockerYale makes structured light lasers, LED modules and specialty optical fibers for industrial OEMs and the medical and defense markets.