Dataram Corporation (NASDAQ: DRAM), an independent manufacturer of memory products and provider of performance solutions, today reported that it has received formal notification from the Listing Qualifications Department of The NASDAQ Stock Market ("NASDAQ") notifying Dataram that it has regained compliance with Listing Rule 5550(a)(2), the minimum bid price requirement for continued listing on The NASDAQ Stock Market, and that the matter is now closed. Dataram's common stock will continue to be listed on The NASDAQ Capital Market.
On January 27, 2016, NASDAQ notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by NASDAQ's Listing Rules. On July 11, 2016, Dataram effected a one for three (1 for 3) reverse split of its outstanding common stock in order to increase its stock price to above the required $1 per share, which was effective with NASDAQ at the open of trading on July 11, 2016. Since then, NASDAQ has determined that for the 10 consecutive business days fromJuly 11, 2016 to July 25, 2016, the closing bid price of the Company's common stock has been at $1.00 per share or greater. On July 26, 2016, NASDAQ provided confirmation to Dataram of the foregoing and that the Company has regained compliance with Listing Rule 5550(a)(2).
Dataram's common stock trades on The NASDAQ Capital Market under the symbol "DRAM."
"We are very pleased to have regained compliance with NASDAQ's listing rules," said Dave Moylan, Chairman and Chief Executive Officer (CEO) of the Company. "Maintaining our NASDAQ listing is vital to our Company, our shareholders and customers as we continue to execute our plan to transform Dataram. We believe our shareholders will benefit from the enhanced liquidity provided by the listing of the Company's shares on The NASDAQ Capital Market."
About Dataram Corporation
Dataram is an independent manufacturer of memory products and provider of performance solutions that increase the performance and extend the useful life of servers, workstations, desktops and laptops sold by leading manufacturers such as Dell, Cisco, Fujitsu, HP, IBM, Lenovo and Oracle. Dataram's memory products and solutions are sold worldwide to OEMs, distributors, value-added resellers and end users. Additionally, Dataram manufactures and markets a line of Intel Approved memory products for sale to manufacturers and assemblers of embedded and original equipment. 70 Fortune 100 companies are powered by Dataram. Founded in 1967, the Company is a US based manufacturer, with presence in the United States, Europe andAsia. For more information about Dataram, visit www.dataram.com.
