This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ossen Innovation Announces Listing Transfer To NASDAQ Capital Market

SHANGHAI, July 29, 2013 /PRNewswire-FirstCall/ -- Ossen Innovation Co., Ltd. ("Ossen" or the "Company") (Nasdaq: OSN), a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, today announced that the Company's application to transfer the Company's listing from the NASDAQ Global Market to the NASDAQ Capital Market has been approved.

Accordingly, the Company's American Depositary Shares (the "ADS's") will begin trading on the NASDAQ Capital Market effective with the open of business on Tuesday, July 30, 2013. The transfer of the Company's listing from the NASDAQ Global Market to the NASDAQ Capital Market is expected to have no impact on trading in the Company's ADS's, and the Company's ADS's will continue to trade under the symbol OSN.

The Company remains subject to a grace period through January 27, 2014, by which date the Company must evidence compliance with NASDAQ's minimum bid price requirement of $1.00 per share. If the Company fails to regain compliance with the minimum bid price by January 27, 2014, NASDAQ will notify the Company of its determination to delist the Company's ADS's, which decision may subsequently be appealed to a NASDAQ Listing Qualifications Panel.



About Ossen Innovation Co., Ltd.



Ossen Innovation Co., Ltd. manufactures and sells a wide variety of plain surface pre-stressed steel materials and rare earth coated and zinc coated pre-stressed steel materials. The Company's products are mainly used in the construction of bridges, as well as in highways and other infrastructure projects. Ossen has two manufacturing facilities located in Maanshan, Anhui Province, and Jiujiang, Jiangxi Province.  

Safe Harbor Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company's public filings with the Securities and Exchange Commission, including the Company's annual report on Form 20-F. All information provided in this press release is as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,016.82 -53.58 -0.30%
S&P 500 2,104.61 -9.88 -0.47%
NASDAQ 4,972.5080 -44.4210 -0.89%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs