Metabolix Granted Financial Viability Exception By NASDAQ
The Company applied to NASDAQ for a financial viability exception because it determined that the delay necessary to seek and obtain shareholder approval for the transaction would seriously jeopardize the financial viability of the Company. A special committee of the Company's Board of Directors comprised solely of independent, disinterested directors approved the transaction and the Company's reliance on the NASDAQ financial viability exception.
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In accordance with NASDAQ requirements, the Company will mail a letter to shareholders notifying them of its intention to close the transaction without obtaining approval from its shareholders.
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Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding the anticipated closing of the private placement transaction, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in
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