CONSHOHOCKEN, Pa.-Reversing a trend of market delistings by its fellow Sprint PCS affiliates, UbiquiTel Inc. reported beginning July 10 its stock will move from the Nasdaq SmallCap Market to the Nasdaq National Market.
UbiquiTel said the transfer was possible after its stock price closed above $1 per share for 30 consecutive days ending July 3 and that the company has continued to meet the other listing requirements of the National Market throughout the eight-month period its stock traded on the SmallCap Market.
“We are extremely gratified that UbiquiTel’s improving operating and financial performance are being recognized by the capital markets, allowing the company to regain its listing on the Nasdaq National Market,” said Donald Harris, chairman and chief executive officer of UbiquiTel. “Our continuing affiliation with Nasdaq will preserve optimal liquidity for our current and future shareholders and broaden our options as we pursue opportunities to maximize wealth for all our stakeholders.”
