-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EsQYt3tBNoImaMcUnKWbTNn6Fvn7ulbSIne2oPp1NCcq0MDrwAv0NcLP6rM6wWKg 10gD888DyVAGTdKTbm5xhw== 0001104659-07-090876.txt : 20071226 0001104659-07-090876.hdr.sgml : 20071225 20071226160947 ACCESSION NUMBER: 0001104659-07-090876 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20071220 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071226 DATE AS OF CHANGE: 20071226 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WJ COMMUNICATIONS INC CENTRAL INDEX KEY: 0000105006 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 941402710 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31337 FILM NUMBER: 071326728 BUSINESS ADDRESS: STREET 1: 401 RIVER OAKS PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95134 BUSINESS PHONE: 408-577-6200 MAIL ADDRESS: STREET 1: 401 RIVER OAKS PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95134 FORMER COMPANY: FORMER CONFORMED NAME: WATKINS JOHNSON CO DATE OF NAME CHANGE: 19920703 8-K 1 a07-32150_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 8-K

 

Current report pursuant to Section 13 or 15(d) of The

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  December 20, 2007

 

WJ COMMUNICATIONS, INC.

(Exact name of registrant as specified in its charter)

 

Commission file number 000-31337

 

Delaware

 

94-1402710

(State or other jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)

 

401 River Oaks Parkway, San Jose, California

 

95134

(Address of principal executive offices)

 

(Zip Code)

 

(408) 577-6200

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 3.01   Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

 

On December 20, 2007, WJ Communications, Inc. (the “Company”) received a letter from the NASDAQ Stock Market advising that for the previous 30 consecutive business days, the bid price of the Company’s common stock had closed below the minimum $1.00 per share requirement for continued inclusion on the NASDAQ Global Market pursuant to NASDAQ Marketplace Rule 4450(a)(5). This notification has no effect on the listing of the Company’s common stock at this time and it will continue to trade on the NASDAQ Global Market under the symbol “WJCI”.

 

NASDAQ stated in its letter that in accordance with NASDAQ Marketplace Rule 4450(e)(2), the Company will be provided 180 calendar days, or until June 17, 2008, to regain compliance with the minimum bid price requirement. The NASDAQ letter also states that if, at any time before June 17, 2008, the bid price of the common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the NASDAQ staff will provide the Company with written notification that it has achieved compliance with the minimum bid price requirement.

 

If the Company does not regain compliance with the minimum bid price requirement by June 17, 2008, the NASDAQ staff will provide the Company with written notification that the common stock will be delisted from the NASDAQ Global Market. At that time, the Company may appeal the delisting determination to a NASDAQ Listings Qualifications Panel pursuant to applicable NASDAQ rules. Alternatively, NASDAQ Marketplace Rule 4450(i) may permit the Company to transfer the common stock to the NASDAQ Capital Market if the common stock satisfies all criteria, other than compliance with the minimum bid price requirement, for initial inclusion on such market. In the event of such a transfer, the NASDAQ Marketplace Rules provide that the Company will be afforded an additional 180 calendar days to comply with the minimum bid price requirement while listed on the NASDAQ Capital Market.

 

A copy of the press release issued by the Company on December 26, 2007 is attached hereto as Exhibit 99.1.

 

Item 9.01.              Financial Statements and Exhibits.

 

(d) Exhibits.

 

99.1                               Press Release dated December 26, 2007.

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934,  the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

                                                                                               

 

 

WJ COMMUNICATIONS, INC.

 

 

 

 

By:

/s/ R. Gregory Miller

 

 

R. Gregory Miller

 

 

Chief Financial Officer

 

 

 

 

Dated:  December 26, 2007.

 

3


 

 

EX-99.1 2 a07-32150_1ex99d1.htm EX-99.1

Exhibit 99.1

 

News

 

 

WJ Communications Receives NASDAQ Notification Related to Minimum Bid Price

 

SAN JOSE, Calif. — December 26, 2007 — WJ Communications, Inc. (Nasdaq: WJCI), a leading designer and supplier of radio frequency (RF) solutions for the wireless infrastructure and radio frequency identification (RFID) reader markets, today announced it has received a notice from the NASDAQ Stock Market stating that for the last 30 consecutive business days, the bid price of the Company’s common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4450(a)(5) (“the Rule”).

 

The notice has no effect on the listing of WJ Communication’s common stock at this time, and the Company’s common stock will continue to trade on the NASDAQ Global Market under the symbol “WJCI”.

 

In accordance with Marketplace Rule 4450(e)(2), the Company will be provided 180 calendar days, or until June 17, 2008, to regain compliance.  In order to regain compliance, the bid price of the Company’s common stock must close at or above $1.00 per share for a minimum of 10 consecutive business days.

 

If compliance with “the Rule” is not regained by June 17, 2008, the notice indicates the Company will receive a written notification from NASDAQ that its securities will be delisted.  At that time, WJ may appeal that determination to a Listing Qualifications Panel, or alternatively, may apply to transfer its securities to the NASDAQ Capital Market if it satisfies the requirements for inclusion set forth in Marketplace Rule 4310(c), other than the Minimum Bid Price Rule.  If the application is approved, the Company will be afforded the remainder of the NASDAQ Capital Market’s second 180 calendar day compliance period to regain compliance with the Minimum Bid Price Rule while on the NASDAQ Capital Market.

 

The Company continues to assess opportunities to maximize shareholder value, including the previously announced engagement of Thomas Weisel Partners, LLC to evaluate strategic alternatives.

 

Forward-Looking Statements

 

This release contains a forward-looking statement as to a certain Company action and goal. This forward-looking statement and others made by the Company are not historical facts but rather are based on current expectations and our beliefs. Words such as “may,” “will,” “expects,” “intends,” “plans,” “believes,” “seeks,” “could” and “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. The Company’s actual results may differ materially from these forward-looking statements as a result of a number of factors, including, but not limited to, the ability to maintain its listing on the NASDAQ Global Market by regaining compliance with Market Place Rule 4450(a)(5) on or before June 17, 2008, the results of the Company’s current evaluation of strategic alternatives

 

 



 

and the success of any action taken as a result of that evaluation, the future success of our current business model and the risk factors contained in the Company’s Form 10-K for year ended 2006, Form 10-Q, and such other factors as described from time to time in the Company’s filings with the Securities & Exchange Commission, which are available on the SEC Web site at www.sec.gov. Readers of this release are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise the forward-looking statements contained herein to reflect changed events or circumstances after the date of this press release.

 

About WJ Communications

 

WJ Communications, Inc. is a leading provider of radio frequency (RF) solutions serving multiple markets targeting wireless communications, RF identification (RFID), and WiMax. WJ addresses the RF challenges in these multiple markets with its highly reliable amplifiers, mixers, RF integrated circuits (RFICs), RFID reader modules, chipsets, and multi-chip (MCM) modules. For more information visit www.wj.com.

 

All trademarks used, referenced, or implicitly contained herein are used in good faith and highlighted to give proper public recognition to their respective owners

 

Company Contact:

 

Media Contact

 

Investor Contact:

R. Gregory Miller

 

Claudia Lin

 

Ryan Bright

Chief Financial Officer

 

Marketing and Public Relations

 

Shelton Group Investor Relations

WJ Communications

 

WJ Communications

 

For WJ Communications

408-577-6200

 

408-577-6341

 

972-239-5119 ext. 159

gregory.miller@wj.com

 

claudia.lin@wj.com

 

rbright@sheltongroup.com

 

 


 

 

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