GoAmerica regains compliance with the Nasdaq
GoAmerica, Inc. (Nasdaq: GOAM), a provider of communications services for people who are deaf, hard-of-hearing, or speech-disabled, said after Wednesday’s close that it has regained compliance with the Nasdaq stock exchange.
The small cap had violated a Nasdaq rule in connection with the issuance of shares of the company’s Series A Preferred Stock in August 2007. Specifically, the company’s conversion of preferred stock into common stock without shareholder approval was restricted in the “Certificate of Designation.” The company said that the restriction was only applicable while the company's common stock was listed on Nasdaq or another exchange.
Shares of GoAmerica (GOAM) gained 2.82%, or $0.20, to $7.30 in pre-market trading. Shares of GoAmerica have been trading in the range of $3.57 to $10.87 for the past 52 weeks.
