Tripath granted extension on Nasdaq SmallCap Market
By siliconindia   |   Wednesday, 12 February 2003, 20:30 IST
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SAN JOSE: Tripath Technology Inc. (Nasdaq:TRPH), creators of Class-T(TM) advanced 1-bit digital audio amplifiers, announced today that it has been provided an additional 180 calendar days, or until August 8, 2003, to regain compliance with The Nasdaq SmallCap Market listing requirements. If, at anytime before August 8, 2003, the bid price of the Company's stock closes at $1.00 per share or more for a minimum of 10 consecutive trading days, the Company would be in compliance with The Nasdaq SmallCap Market listing requirements. If the bid price for the Company's stock does not close for a minimum of 10 consecutive trading days in that time period, the Company would be required to obtain from The Nasdaq SmallCap Market an additional grace period to regain compliance. On January 30, 2003, The NASDAQ Stock Market, Inc. announced plans to extend a pilot program governing bid price rules for all NASDAQ National Market and NASDAQ Small Cap issuers. The pilot program will allow issuers that meet core Small Cap initial listing criteria to benefit from extended compliance periods for satisfying minimum bid price requirements. If this term of the pilot program is extended, and if the Company meets the core Small Cap initial listing criteria, it will be eligible to receive an extended compliance period for satisfying the minimum bid price requirements.

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