Sprint PCS affiliate UbiquiTel Inc. said it has regained full compliance with the Nasdaq SmallCap Market listing requirements and will continue to be quoted on the exchange’s board.
The carrier noted its listing requirements included a closing bid price of at least $1 per share for 10 consecutive trading days prior to July 18, which it said it accomplished June 5.
“Our ongoing Nasdaq affiliation will continue to preserve optimal liquidity for our current and future shareholders and help foster our strategic initiatives,” said Donald Harris, chairman and chief executive officer of UbiquiTel.
UbiquiTel’s stock closed at $1.28 per share yesterday and last closed under $1 per share May 21 when it closed at 96 cents per share. UbiquiTel’s stock price traded below $1 per share every trading day between June 6, 2002 and May 14, 2003, hitting a 52-week low of 20 cents per share Oct. 15, 2002.
A number of Sprint PCS affiliates have been de-listed from their respective trading boards, including Alamosa Holdings Inc., AirGate PCS Inc. and US Unwired Inc.
