Smith-Midland Uplisting to The NASDAQ Capital Market

Rhea-AI Summary

Smith-Midland Corporation (NASDAQ:SMID) announced its uplisting to The NASDAQ Capital Market, effective the week of November 16, 2020. This strategic move aims to enhance growth and increase long-term shareholder value. CEO Ashley Smith highlighted the company's commitment to innovation and quality, while CFO AJ Krick noted that the uplisting broadens their potential shareholder base and improves stock liquidity. Management owns approximately 17.5% of the stock, aligning with shareholder interests. The company recognizes risks, including potential impacts from COVID-19.

Positive

• Uplisting to NASDAQ Capital Market expected to enhance growth opportunities.
• Increased visibility and liquidity for SMID stock.
• Management's 17.5% ownership aligns their interests with shareholders.

Negative

• Potential risks related to COVID-19 affecting operations and product demand.
• Market competition and pricing pressures may impact performance.

MIDLAND, VA / ACCESSWIRE / November 12, 2020 / Smith-Midland Corporation (NASDAQ:SMID), which develops, manufactures, licenses, rents and sells a broad array of precast concrete products, services, and systems for use primarily in the construction, transportation and utilities industries, is pleased to announce that NASDAQ approved the Company's common stock for listing on The NASDAQ Capital Market. Smith-Midland will continue trading under its current symbol SMID. Trading on The NASDAQ Capital Market is expected to commence during the week of November 16, 2020.

"Smith-Midland's uplisting to The NASDAQ Capital Market is an important step in our journey to help facilitate our next phase of growth and to increase long-term shareholder value," stated Chief Executive Officer and President, Ashley Smith. "Since inception in 1960, our expansion and diversification of products has continuously evolved as we leverage creative problem solving, engineering and expert craftsmanship in our designs. We are humbled by this monumental achievement, and remain committed to innovation, quality and service as the cornerstones of our business. I want to thank our dedicated team members and our shareholders for their support in our process to increase long-term shareholder value."

"NASDAQ is the ideal platform for the continued growth of Smith-Midland," said Chief Financial Officer, AJ Krick. "The benefits of uplisting include broadening our universe of potential shareholders, enhanced visibility within the investment community, and the opportunity to increase liquidity of the stock."

About Smith-Midland Corporation
Smith-Midland develops, manufactures, licenses, rents and sells a broad array of precast concrete products, services, and systems for use primarily in the construction, transportation and utilities industries. Management and the board own approximately 17.5 percent of SMID stock, aligning with shareholder values. More information is available at www.smithmidland.com

Forward-Looking Statements

This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which might cause such a difference include, but are not limited to, the risk that the COVID-19 outbreak may adversely affect future operations, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, general business and economic conditions, our debt exposure, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

Contacts:

Smith-Midland Corp.

AJ Krick, CFO
540-439-3266
investors@smithmidland.com

Three Part Advisors

Steven Hooser or Deidra Roy
214-872-2710
shooser@threepa.com; droy@threepa.com

SOURCE: Smith-Midland Corporation

View source version on accesswire.com:
https://www.accesswire.com/616317/Smith-Midland-Uplisting-to-The-NASDAQ-Capital-Market

FAQ

When will Smith-Midland begin trading on NASDAQ?

Smith-Midland is expected to commence trading on The NASDAQ Capital Market during the week of November 16, 2020.

What is the significance of Smith-Midland's uplisting?

The uplisting to NASDAQ is aimed at facilitating growth and increasing long-term shareholder value.

How does Smith-Midland align management interests with shareholders?

Management of Smith-Midland owns approximately 17.5% of the company's stock.

What are the potential risks mentioned in Smith-Midland's announcement?

Risks include the impact of COVID-19 on operations and product demand, competitive pricing, and general economic conditions.