HOBOKEN, N.J., Oct. 14, 2015 (GLOBE NEWSWIRE) -- Liquid Holdings Group, Inc. (NASDAQ:LIQD), a SaaS provider of investment management solutions for the buy side, announced today that the Company's request to stay the suspension of trading in the Company's common stock pending the completion of its appeal of a delisting notice issued by the staff of Nasdaq has been granted. The Company's appeal is scheduled for a hearing before a Nasdaq Hearing Panel (the "Panel") on October 29, 2015.
At the hearing, the Company plans to present a plan to regain compliance with Nasdaq listing rules that require the Company to be current in the filing of its periodic financial reports with the Securities and Exchange Commission and to request a further extension of time to file those delayed reports.
The Company's common stock will remain listed on The Nasdaq Capital Market pending the hearing and the expiration of any extension granted by the Panel following the hearing. There can be no assurance that the Panel will grant the Company's request for such extension.
As previously announced, on January 22, 2015, the Company received notice that the closing bid price for its common stock had been below $1.00 per share for 30 consecutive business days and that the Company had until July 21, 2015 to regain compliance. In connection with the transfer of the Company's stock to The Nasdaq Capital Market, the Company was granted an additional 180 days to regain compliance with the minimum $1.00 bid price per share requirement. The new extension period runs through January 19, 2016. There can be no assurance that the Company will be able to meet the bid price per share requirement prior to then.
About Liquid Holdings Group
Liquid Holdings Group, Inc. (NASDAQ:LIQD) is a SaaS provider of investment management solutions to the buy side. The Liquid platform combines multi-asset order, execution and risk management with shadow NAV and investor reporting capabilities. Liquid goes a step further, backing its mission-critical front-office capabilities with managed services to transform manually intensive middle-office processes into an automated, seamless experience. The Company offers the Liquid platform or any of its components on a subscription basis to hedge fund managers, asset managers, family offices and financial institutions worldwide.
Liquid was named Best EMS and Best New Cloud Application by HFM, 2014 Best Global Risk Management Software Company and Best USA Global Risk Management Software Company by the readers of Hedgeweek, as well as 2014 Best Cloud Provider and Best Fin Tech Operations Startup by FTF News.
Headquartered in Hoboken, New Jersey, Liquid Holdings Group was formed in 2012. For more information, please visit www.liquidholdings.com.
Cautionary Statement Concerning Forward Looking Statements
This release contains forward-looking statements within the meaning of the federal securities laws. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements include, among others, statements relating to the delisting of our common stock from The Nasdaq Capital Market. These statements are based on our beliefs and assumptions, which in turn are based on currently available information. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Many of these factors are beyond our ability to control or predict and you should be aware that the occurrence of certain events, including those referenced in the sections titled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2013, in our subsequent Quarterly Reports on Form 10-Q, in Ex. 99.2 to our Current Report on Form 8-K filed October 8, 2015 or in our other filings with the SEC, could harm our business, prospects, results of operations, liquidity and financial condition, could cause our stock price to decline significantly or could require us to scale back or cease operations. Except as required by applicable law, we are under no obligation to publicly update or revise any forward-looking statements.
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Source:Liquid Holdings Group, Inc.