Ann Arbor-based defense contractor and battery systems maker Arotech Corp. is trying to avoid being delisted on the Nasdaq Stock Market according to a report from Crain’s Detroit Business.
According to the report, the company’s shares traded consistently below $1 from June through late October when the company announced it had signed a deal to sell significant assets to an Israeli company for just $50,000. Nasdaq’s marketplace rules require a minimum $1 bid price for stocks to be listed.
The company hopes to keep its stock price above the threshold as it builds on a new $1.3 million order to its Battery and Power Systems Division from an undisclosed foreign government.
Click here to read the full story on Crain’s Detroit Business.