Sipex Corp. announced it has received notification that its common stock is approved for listing on The NASDAQ Capital Market Exchange. Sipex has been informed that its common stock will trade under the symbol "SIPX."
"We are excited to return to NASDAQ," said Ray Wallin, Chief Financial Officer for Sipex. "With our listing we close out this difficult chapter in Sipex’s history, and we are extremely grateful for the continued support of our shareholders, customers, and employees. We believe that relisting is an important step forward for the company and our shareholders. The stability and coverage of NASDAQ furthers our efforts to deliver growth and enhance shareholder value. It also provides both the market visibility and access that are of paramount importance to institutional investors. It’s been a tremendous amount of work, but our new management team has surmounted many significant financial and compliance challenges. A very small percentage of companies ever make it off of the pink sheets in order to be listed again on NASDAQ."
"The NASDAQ listing also comes at a time when our operational changes are starting to make an impact to our key financial metrics," said Ralph Schmitt, Sipex’s Chief Executive Officer. "We are driving towards profitability with the major changes we have made in our cost structure and manufacturing strategy. The recent analog market slowdown has not deterred our progress towards this effort. We also continue to gain traction with key customers in order to move the company forward and increase shareholder value."
