Aptimus Appeals Nasdaq Delisting of Its Securities, Seeks Buyer

Share this content:
Aptimus Inc., an online direct marketing network, has requested a hearing before a Nasdaq panel to appeal the stock market's notice of the potential delisting of its stock. It also said it is evaluating "strategic alternatives" that may include a sale or merger of the company.


Last week, Aptimus received notice from the Nasdaq that its stock was subject to delisting from the Nasdaq National Market because it failed to maintain a minimum selling price of $1 for more than 30 trading days. The company requested an oral hearing before the Nasdaq Listing Qualifications Panel to protest the decision.


Aptimus, Seattle, also said it retained investment banker Dain Rauscher Wessels to help it evaluate alternatives such as a sale or merger. The company did not say whether it was in talks with anyone regarding a sale or merger.


Tim Choate, Aptimus' president/CEO, said that while he is confident of the company's long-term prospects, a sale or merger would make sense given the near-term challenges it faces.


"I am mindful of the near-term challenges facing the company, including the risk of delisting by Nasdaq, the negative sentiment in the markets toward our business sector and the challenges we face in the early stages of developing our network model," Choate said. "Under these circumstances, it is prudent for the company to consider alternatives to the status quo."


close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above