Despite a stock price of just 9 cents, Airspan will be able to keep its listing on the NASDAQ exchange, at least until mid-April.
The NASDAQ weighed in with its 2 cents, telling Airspan it's suspended rules that require companies to maintain minimum closing prices of $1. The rule suspension lasts until April 20. The decision is a move to help a number of companies struggling in this poor economy.
Earlier this month, Airspan shareholders authorized the board of directors to undertake a reverse split of the company’s shares. No word yet when, or if that action will be carried out.
Airspan is a provider of WiMAX-based broadband wireless access networks.
