UTStarcom Regains NASDAQ Listing Compliance

Rhea-AI Summary

On July 15, 2022, UTStarcom (NASDAQ: UTSI) announced that it has regained compliance with NASDAQ's Listing Rule 5450(a)(1). The company achieved this status as its common stock's closing bid price has remained at $1.00 per share or greater for the last 10 consecutive business days. UTStarcom is a global telecommunications infrastructure provider known for offering innovative communication services and equipment for mobile backhaul, metro aggregation, and broadband access, with a strong presence in Japan and India.

Positive

• Regained compliance with NASDAQ's Listing Rule 5450(a)(1).
• Closing bid price of $1.00 or greater for 10 consecutive business days.

Negative

• None.

HANGZHOU, China, July 15, 2022 (GLOBE NEWSWIRE) -- UTStarcom (“UT” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today announced the Company received a formal notice from NASDAQ that it has regained compliance with Listing Rule 5450(a)(1) as a result of the closing bid price of the Company's common stock has been at $1.00 per share or greater for the last 10 consecutive business days.

About UTStarcom Holdings Corp.

UTStarcom is committed to helping network operators offer their customers the most innovative, reliable and cost-effective communication services. UTStarcom offers high performance advanced equipment optimized for the most rapidly growing network functions, such as mobile backhaul, metro aggregation and broadband access. UTStarcom has operations and customers around the world, with a special focus on Japan and India. UTStarcom was founded in 1991 and listed its shares on the Nasdaq Market in 2000 (symbol: UTSI). For more information about UTStarcom, please visit http://www.utstar.com.

For investor and media inquiries, please contact:

UTStarcom Holdings Corp.
Tel: +86 571 8192 8888
Ms. Shelley Jiang, Investor Relations
Email: utsi-ir@utstar.com/ Shelleyjiang@utstar.com/

In the United States:

The Blueshirt Group
Mr. Gary Dvorchak
Email: gary@blueshirtgroup.com

FAQ

When did UTStarcom regain compliance with NASDAQ's Listing Rule 5450(a)(1)?

UTStarcom regained compliance on July 15, 2022.

What is the current stock price status of UTStarcom?

UTStarcom's stock price has been above $1.00 per share for the last 10 consecutive business days.

What is UTStarcom's stock symbol?

UTStarcom's stock symbol is UTSI.

What does UTStarcom primarily provide?

UTStarcom provides telecommunications infrastructure and communication services.