FTE Networks Receives Delisting Notice from NYSE American
NEW YORK, NY, December 19, 2019 – FTE Networks, Inc. (NYSE American: FTNW) (“FTE” or the “Company”), announced that on December 17, 2019 it received a letter from the NYSE American LLC (the “Exchange”) notifying the Company that the Exchange had determined to commence proceedings to delist the Company’s common stock (the “Common Stock”) from the Exchange, pursuant to Section 1003(f)(iii) of the NYSE American Company Guide (the “Company Guide”) because the Company or its management have engaged in operations that, in the opinion of the Exchange, are contrary to the public interest. The common stock was suspended at market close on NYSE American on the same date.
The Exchange stated that it will apply to the Securities and Exchange Commission (the “SEC”) to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the Exchange’s delisting determination.
The Company has a right to request a review of this determination by a Committee of the Board of Directors of NYSE Regulation. FTE is considering this and other alternatives open to the Company to act in the best interests of its shareholders and will announce promptly any measures that its board of directors determines are appropriate.
About FTE Networks, Inc.
FTE Networks, Inc. (“FTE”) through its subsidiaries Crosslayer and Juscom divisions provide technology solutions for smart building platforms, edge computing and network infrastructure solutions for residential and commercial properties. We create transformative smart platforms and buildings. FTE’s services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading edge projects and services. The Company works with Fortune 100/500 companies, including some of the world’s leading Telecommunications and IT Services Providers as well as REITs and Media Providers.
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For more information, please contact:
FTE Networks, Inc.
237 W. 35th Street, Suite 601
New York, NY 10001