Stock Split by Tivoli Forestalls Delisting
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Tivoli Industries of Santa Ana said Wednesday it has been notified by Nasdaq officials that its stock is no longer in danger of losing its listing on the Nasdaq market.
A reverse 1-for-3 stock split, which took effect late last month, has bumped the shares above the $1 minimum needed to continue trading on the Nasdaq SmallCap market.
Tivoli, which makes specialty lighting and related products, had been one of several companies wrestling with tougher listing standards imposed last year by Nasdaq.
The company said its common shares have traded above the required $1 a share since March 29. The stock closed Wednesday at $2.81 a share, off 6 cents
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