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Saturday, February 11, 2012 5:20:03 PM
10-Feb-2012
Notice of Delisting or Failure to Satisfy a Continued Listing Rul
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On February 6, 2012, Spanish Broadcasting System, Inc. (the "Company") received notification from the NASDAQ Stock Market ("NASDAQ") that the Company had regained compliance with the minimum market value of publicly held shares requirement ("Market Value of Publicly Held Shares Requirement") of $15,000,000 for a minimum of 10 consecutive business days as set forth in NASDAQ Listing Rule 5450(b)(2)(C) (the "Rule"). Accordingly, the Company has regained compliance with the Rule and will continue to be listed on the NASDAQ Global Market.
Previously on September 15, 2011, the Company received a written deficiency notice (the "Notice") from NASDAQ, advising us that the market value of our Class A common stock for the previous 30 consecutive business days had been below the required Market Value of Publicly Held Shares Requirement for continued listing on the NASDAQ Global Market pursuant to the Rule. Pursuant to NASDAQ Listing Rule 5810(c)(3)(D), the Company was provided an initial grace period of 180 calendar days, or until March 13, 2012, to regain compliance with the Rule.
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