Dynasil Corporation of America’s Announces Filing of Form 25 and Suspension of Trading of Common Stock on Nasdaq
August 19 2019 - 5:00PM
Dynasil Corporation of America (NASDAQ:DYSL) (the “Company”) today
announced that, in connection with its previously announced
delisting and deregistration transaction, it has filed a Form 25
Notification of Removal From Listing with the Securities and
Exchange Commission (SEC) to delist the Company’s common stock from
trading on the Nasdaq Capital Market. The Company’s common
stock will cease trading on Nasdaq at the close of trading on
Friday, August 23, 2019. The Company intends to file a Form
15 with the SEC to suspend the Company’s reporting obligations
under the Securities Exchange Act of 1934, as amended, on or about
August 29, 2019. The Company is implementing the delisting
and deregistration transaction as approved by the Company’s
stockholders at a Special Meeting of Stockholders held on August 7,
2019.
Following its delisting from Nasdaq, the
Company’s common stock may be quoted on the OTC Pink Open Market
(the “Pink Sheets”), a centralized electronic quotation service for
over-the-counter securities, if market makers demonstrate an
interest in trading in the Company’s common stock. However, the
Company can give no assurance that trading in its common stock will
commence or continue on the Pink Sheets or any other securities
exchange or quotation medium.
About Dynasil Corporation of
America
Dynasil Corporation of America develops,
markets, manufactures, and sells detection, sensing, and analysis
technology and optical components in the United
States, Europe, and internationally. It operates through three
segments: Optics, Innovation and Development, and Biomedical. The
Optics segment supplies synthetic crystals, optical materials,
components, and coatings that are used in devices, such as baggage
scanners, medical imaging systems, optical instruments, lasers,
analytical instruments, automotive components,
semiconductor/electronic devices, spacecraft/aircraft components,
and advertising displays in the medical, industrial, and homeland
security/defense sectors. The Innovation and Development segment
develops advanced technology in materials, sensors, and prototype
instruments that detect or measure radiation, light, magnetism, or
sound for use in security, medical, and industrial applications.
The Biomedical segment engages in the development of tissue sealant
products. The Company distributes its products through direct sales
and marketing staff, as well as through manufacturer's
representatives and distributors. Dynasil Corporation of
America was founded in 1960 and is headquartered
in Newton, Massachusetts.
Forward-Looking Statements
This press release may contain forward-looking
statements that are being made pursuant to the Private Securities
Litigation Reform Act of 1995, which provides a “safe harbor” for
forward-looking statements to encourage companies to provide
prospective information so long as those statements are accompanied
by meaningful cautionary statements identifying important factors
that could cause actual results to differ materially from those
discussed in the statement. Such forward-looking statements
include statements about the deregistration and delisting of the
Company’s common stock and the perceived benefits and costs of the
proposed transaction. Such forward-looking statements are
subject to a number of known and unknown risks and uncertainties
that could cause actual results, performance or achievements to
differ materially from those described or implied in such
forward-looking statements. Accordingly, actual results may differ
materially from such forward-looking statements. The
forward-looking statements relating to the transaction discussed
above are based on the Company’s current expectations, assumptions,
estimates and projections about the Company and involve significant
risks and uncertainties, including the many variables that may
impact the Company’s projected cost savings, variables and risks
related to consummation of the proposed transaction, SEC regulatory
review of the Company’s filings related to the proposed
transaction, and the continuing determination of the Board of
Directors and Special Committee that the proposed transaction is in
the best interests of all stockholders. The Company assumes no
obligation for updating any such forward-looking statements to
reflect actual results, changes in assumptions or changes in other
factors affecting such forward-looking statements.
Contact:
Patty KeheCorporate SecretaryDynasil Corporation of AmericaPhone:
617.668.6855pkehe@dynasil.com
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