Vicor Receives Notice From Nasdaq Regarding Possible Delisting
Vicor Corp. announced that it received an additional Nasdaq Staff Determination Letter on November 13, 2007 indicating that the company is not in compliance with Marketplace Rule 4310(c)(14), which requires timely filing of periodic reports with Nasdaq for continued listing. The letter was issued in accordance with Nasdaq’s procedures as a result of the delayed filing of the company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2007.
Nasdaq initially informed Vicor on August 15, 2007 that its securities would be delisted due to the company’s delay in filing its Quarterly Report on Form 10-Q for the three months ended June 30, 2007 unless the company requested a hearing in accordance with applicable Nasdaq Marketplace Rules. The company subsequently requested and was granted a hearing before the Nasdaq Listing Qualifications Panel (the "Panel"). The Panel rendered its decision on November 2, 2007, granting Vicor’s request to give the company until January 31, 2008 to file its past due Form 10-Q for the quarter ended June 30, 2007 and regain compliance with Nasdaq’s listing requirements.
Vicor stated that it intends to make a submission to the Panel to address the delayed filing of its third quarter Form 10-Q. Pending a decision by the Panel, the company’s shares will continue to be listed on the Nasdaq Global Select Market. There can be no assurance that the Panel will grant the company’s request for continued listing.