6 May 2011

GigOptix receives conditional listing approval from NYSE Amex

GigOptix Inc of Palo Alto, CA, USA, which designs modulator drivers, laser drivers and transimpedance amplifier (TIA) ICs based on III-V materials as well as polymer electro-optic modulators for 40–100Gb/s fiber-optic communications systems, has received conditional approval to list its common stock on the NYSE Amex stock exchange.

Final approval of the application is subject to certain enumerated conditions, including the closing of its merger (announced on 7 February) with Endwave Corp of San Jose, CA (which designs and manufactures high-frequency RF solutions and semiconductor products for the wireless mobile backhaul communications, satellite communications, electronic instruments, and defense and security markets) as well as continued compliance with other listing requirements of the exchange. Specifically, GigOptix’s common stock must maintain a market capitalization of $50m, a minimum price of $2 per share and a public float of $15m.

GigOptix common shares will continue to trade on the Over-the-Counter Bulletin Board under the symbol ‘GGOX’ until all of the NYSE Amex listing conditions have been met. The firm has reserved the ticker symbol ‘GIG’. Subsequent to all conditions being satisfied and the shares officially trading on the NYSE Amex, GigOptix common shares will no longer be traded on the Over-the-Counter Bulletin Board.

“We are pleased to have renewed our conditional approval, which brings us closer to our goal of listing our common stock on a national securities exchange,” says chairman of the board & CEO Dr Avi Katz. “We believe the NYSE Amex listing is an important milestone and integral part of the company’s development and future growth initiatives,” he adds.

“We view this listing as being beneficial to both our existing stockholders as well as Endwave's holders in that it will increase GigOptix’s visibility, liquidity and suitability for a broader group of investors,” Katz continues. “We look forward to closing the Endwave transaction in the second quarter of 2011 and satisfying all of the conditions required by the NYSE Amex exchange to commence trading thereafter.”

This approval is contingent upon GigOptix being in compliance with all applicable listing standards on the date that it begins trading on the NYSE Amex exchange and may be rescinded if GigOptix is not in compliance with such standards or if any of the standards outside of its control are not satisfied.

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