DSLN - - PRICE RULE EXTENDED - Press ReleaseSource: DSL.net, Inc.
DSL.net Applauds Extension of Nasdaq's Minimum Bid Price Rule Compliance Periods
Wednesday March 19, 12:58 pm ET
NEW HAVEN, Conn.--(BUSINESS WIRE)--March 19, 2003--DSL.net, Inc. (NASDAQ: DSLN - News), a leading nationwide provider of broadband communications services to businesses, today commended the Nasdaq on its decision to extend the market's minimum bid price rule compliance periods by 90 days.
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The 90-day extension is part of the Nasdaq's previously announced plan to extend the grace period. The new rule means DSL.net now has until July 13, 2003, to maintain a closing price of at least $1.00 per share for a minimum of 10 consecutive trading days to continue its common stock listing on the Nasdaq SmallCap Market. The Nasdaq also indicated earlier this year its intention to further extend the bid price grace period - subject to review and approval by the Securities and Exchange Commission.
"We applaud Nasdaq for implementing this immediate 90-day extension and its willingness to further extend the grace period," said David F. Struwas, chairman and chief executive officer of DSL.net. "We believe that this extension will enhance the Company's ability to regain compliance with Nasdaq's minimum bid price rules."
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