NEWPORT BEACH, Calif.--(BUSINESS WIRE)--DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”) announced today that it has received a deficiency letter dated July 3, 2019 (the “Letter”) from the NYSE American LLC (the “Exchange”). On January 4, 2019, the Exchange had sent the Company the original deficiency letter (the “Prior Letter”), which indicated that the Company was not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide (the “Company Guide”). Specifically, the Prior Letter informed the Company that the Exchange had determined that the shares of the Company's common stock (the “Shares”) have been selling for a low price per share for a substantial period of time and, pursuant to Section 1003(f)(v) of the Company Guide (the “Price Noncompliance”), the Company's continued listing is predicated on the Company effecting a reverse stock split of the Shares or otherwise demonstrating sustained price improvement within a reasonable period of time, which the Exchange determined to be no later than July 4, 2019.
In the Letter, the Exchange advised the Company that it has yet to become compliant with the Price Noncompliance provision and that the listing of its Shares is therefore being continued pursuant to an extension temporarily granted by the Exchange. Finally, the Exchange informed the Company that it will determine whether or not the Company has regained compliance with the Price Noncompliance provision no later than July 19, 2019
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies that hold global potential. Through its wholly owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. In addition, the Company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW’s headquarters are located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
The foregoing release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.