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57th Street General Acquisition Corp. (the “Company”) (OTCBB: CRMB, CRMBW, CRMBU), owner of Crumbs Holdings LLC (“Crumbs”), a national neighborhood bakery and the largest U.S.-based retailer of cupcakes, announced today that NASDAQ has approved the listing of its common stock, warrants and units for trading on the NASDAQ Capital Market effective June 30, 2011. The Company’s common stock, warrants and units will trade under the current symbols “CRMB”, “CRMBW” and “CRMBU”, respectively.
“Our listing on the NASDAQ Capital Market is a milestone for our Company,” said Jason Bauer, Co-Founder of Crumbs and CEO of the Company. “We are delighted to have achieved approval for listing on the NASDAQ and anticipate this platform will bring improved visibility for the Company. In addition, this listing will benefit our stockholders through improved trading efficiencies. We are excited about the opportunity to elevate our Company's standing within the business and investment communities and look forward to joining other leading companies who are listed on this premier exchange.”
"We are delighted to welcome 57th Street General Acquisition Corp, the owner of Crumbs Holdings LLC, to NASDAQ," said Bruce Aust, Executive Vice President, Global Corporate Client Group, NASDAQ OMX. "Crumbs will be joining a long list of leading consumer brand companies that call NASDAQ home. We look forward to a successful and enduring partnership with Crumbs and its shareholders.”
About the Company and Crumbs Holdings LLC
The Company was formed in Delaware in October 2009 and acquired its interest in its subsidiary, Crumbs Holdings LLC, in May 2011. The first Crumbs bake shop opened its doors in March 2003 on the Upper West Side of Manhattan by co-founders Mia & Jason Bauer. The design of Crumbs Bake Shops is inspired by old-time neighborhood bakeries, creating a warm and friendly environment with wall-to-wall treats. Recently ranked the largest retailer of cupcakes nationwide and one of Inc. Magazine’s 10 Breakout Companies of 2010, Crumbs currently has 35 locations, including 25 locations in the New York Metro area, six locations on the West Coast, two locations in Washington, D.C., one location in Virginia and one location in Chicago. The specialty of the house is cupcakes; however, the menu also includes an irresistible blend of comfort-oriented classics and elegant baked goods. There are more than 60 varieties of cupcakes baked fresh daily with a new cupcake of the week debuting each Monday.