GigOptix Receives NYSE Amex Conditional Approval
PALO ALTO, Calif., May 16, 2011 — High-performance electronic and electro-optic components supplier GigOptix Inc. has received conditional approval to list its common stock on the NYSE Amex Stock exchange, it announced recently.
Final approval of the company’s application is subject to enumerated conditions, including its merger with Endwave Corp., which it plans to close in the second quarter of 2011, as well as continued compliance with other listing requirements of the exchange. Specifically, the company said its common stock must maintain a market capitalization of $50 million, a minimum price of $2 per share and a public float of $15 million.
Its common stock will continue to trade on the Over-the-Counter Bulletin Board until all of the NYSE Amex listing conditions have been met. Once all conditions have been satisfied and the shares are officially traded on the NYSE Amex, its common shares will cease to be traded on the Over-the-Counter Bulletin Board.
“We are pleased to have renewed our conditional approval, which brings us closer to our goal of listing our common stock on a national securities exchange,” said Dr. Avi Katz, chairman of the board and chief executive officer. “Additionally, we view this listing as being beneficial to both our existing stockholders as well as Endwave’s holders in that it will increase GigOptix’s visibility, liquidity and suitability for a broader group of investors.”
For more information, visit: www.gigoptix.com