Towerstream Regains Compliance with NASDAQ Minimum Share Price Requirement
July 25 2016 - 8:45AM
Towerstream Corporation (NASDAQ:TWER) (the “Company”), a leading
Fixed-Wireless Fiber Alternative company, announced today that it
received confirmation that as of July 21, 2016, the Company has
evidenced a closing per share bid price of its common stock in
excess of NASDAQ’s $1.00 minimum closing bid price requirement for
at least ten consecutive trading days. Accordingly, the Company
complies with NASDAQ Listing Rule 5550(a)(2) and will continue to
trade on The NASDAQ Capital Market. As previously announced,
the Company also has obtained an extension, through November 22,
2016, to satisfy the minimum shareholder equity of $2.5 million
required for continued listing.
About Towerstream
Corporation
Towerstream Corporation (NASDAQ:TWER) is a
leading Fixed-Wireless Fiber Alternative company delivering
high-speed Internet access to businesses. The Company offers
broadband services in 12 urban markets including New York City,
Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay
area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno,
and the greater Providence area.
In 2014, Towerstream launched its On-Net
fixed-wireless service offering On-Net building tenants access to
dedicated, symmetrical high-speed Internet connectivity, with a
premier SLA, at market-setting prices.
Safe Harbor
Certain statements contained in this press
release are “forward-looking statements” within the meaning of
applicable federal securities laws, including, without limitation,
anything relating or referring to future financial results and
plans for future business development activities, and are thus
prospective. Forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted or
quantified based on current expectations. Such risks and
uncertainties include, without limitation, the risks and
uncertainties set forth from time to time in reports filed by the
Company with the Securities and Exchange Commission. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to be correct.
Consequently, future events and actual results could differ
materially from those set forth in, contemplated by, or underlying
the forward-looking statements contained herein. The Company
undertakes no obligation to correct or update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
INVESTOR CONTACT:
Terry McGovern
Vision Advisors
415-902-3001
mcgovern@visionadvisors.net
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