Friday, manufacturer of semiconductor capital equipment Aviza Technology Inc. (AVZA), said its application to transfer the listing of its securities to the Nasdaq Capital Market had been denied. Further, the company has been notified that its securities are subject to delisting from The Nasdaq Global Market.
A staff determination letter received by the company stated that it had not regained compliance within the grace period and as a result, trading of its common stock will be suspended effective on the opening of business on October 3. A Form 25-NSE will be filed with the Securities and Exchange Commission to remove the company's securities from listing and registration on Nasdaq.
The company said it intends to appeal the staff determination to a Nasdaq Listing Qualification Panel.
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