Form 8-K for CYBEX INTERNATIONAL INC
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing
On January 21, 2011, Cybex International, Inc. ("Cybex" or the "Company"), received a letter from the NASDAQ Stock Market ("NASDAQ") notifying Cybex that it no longer meets the NASDAQ's continued listing requirement under Listing Rule 5450(a)(1), in that the Company's common stock has traded below $1.00 per share for 30 consecutive business days. This notification has no effect at this time on the listing of the Company's common stock, which will continue to trade on the NASDAQ Global Market.
The notification letter states that the Company will be afforded 180 calendar days, or until July 20, 2011, to regain compliance with the minimum bid price continued listing requirement. To regain compliance, the closing bid price of the common stock must meet or exceed $1.00 per share for at least 10 consecutive business days. If Cybex does not regain compliance by July 20, 2011, NASDAQ will provide written notification to Cybex that its securities are subject to delisting. During this time, Cybex will continue to monitor the closing bid price for its common stock and consider its available options to regain compliance with the NASDAQ minimum bid price requirement, which may include applying for an extension of the compliance period or an appeal to a NASDAQ Listing Qualifications Panel.