Nasdaq de-lists SpatiaLight after it fails minimum stock requirements

By Sheri Kasprzak

New York, July 11 - SpatiaLight, Inc. was de-listed from the Nasdaq Capital Market because the company did not meet the stock market's minimum common stock value necessary to continue trading.

According to an 8-K filed Wednesday with the Securities and Exchange Commission, SpatiaLight's stock will now trade on Pink Sheets under the HDTV symbol.

Since the company's stock is no longer traded on Nasdaq, the company's senior secured convertible notes due Nov. 30 became redeemable at 115% of the principal amount plus interest and late charges. If the company fails to redeem any of the senior convertible notes within five days after demand, the conversion price will be reset to the lowest weighted average price for the common shares between the date a noteholder demands redemption and the date that the demand is withdrawn. The original conversion price was $9.72.

Based in Novato, Calif., SpatiaLight makes liquid crystal on silicon microdisplays for high-definition televisions.

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