SPACEHAB, Incorporated, a leading provider of commercial space services, announced today that Nasdaq has approved its application to transfer the listing of the Company’s common stock from the Nasdaq National Market to the Nasdaq Capital Market.
The transfer to the Capital Market was effective at the opening of business on March 22, 2006. SPACEHAB will continue to trade under the symbol “SPAB”. The Company applied to transfer from the National Market to the Capital Market after it received a letter from Nasdaq notifying the Company that it was not in compliance with the National Market listing requirement for stockholders equity.
As announced on December 2, 2005, SPACEHAB does not currently satisfy the $1.00 bid price requirement for continued listing on Nasdaq. Pursuant to Nasdaq Marketplace Rules, the Company was granted a 180 calendar day grace period, through May 30, 2006, to evidence a closing bid price of at least $1.00 per share for 10 consecutive trading days. SPACEHAB has not yet evidenced compliance with that requirement. However, in the event the Company does not remedy the bid price deficiency by May 30, 2006 but evidences compliance with all other initial listing requirements for the Nasdaq Capital Market upon the expiration of the initial 180 day period, the Company will be eligible for an additional 180 day period, through November 27, 2006, to achieve compliance with the minimum bid price requirement. SPACEHAB currently complies with all other initial listing requirements for the Nasdaq Capital Markets.
About SPACEHAB, Incorporated
SPACEHAB, Incorporated (www.spacehab.com) is a leading provider of commercial and government space services with three primary business units. The Flight Services business unit develops, owns, and operates habitat and laboratory modules and cargo carriers aboard NASA’s Space Shuttles for Space Station resupply and research purposes. SPACEHAB’s Astrotech subsidiary provides payload processing support services for both commercial and government customers at company-owned facilities in Florida and California. The Company’s Government Services business unit supports NASA’s Johnson Space Center providing configuration management, product engineering, and support services for both the Space Station and Space Shuttle programs. Additionally, through The Space Store, Space Media provides space merchandise to the public and space enthusiasts worldwide (www.thespacestore.com).
The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company’s Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
Contact:
SPACEHAB, Inc., Houston
Kimberly Campbell, 713-558-5049
campbell@spacehab.com
