REDWOOD SHORES, CA — (Marketwired) — 03/24/16 — iPass Inc. (NASDAQ: IPAS), a leading provider of global mobile connectivity, received formal notification on March 23, 2016 from The NASDAQ Stock Market LLC (NASDAQ) that the company has regained compliance with Listing Rule 5450(a)(1), which requires the company–s common stock to maintain a minimum bid price of $1.00 per share. NASDAQ staff made this determination of compliance after the closing bid price of the company–s common stock traded at $1.00 per share or greater for the prior 10 consecutive business days.
On November 5, 2015, iPass Inc. received a letter from the listing qualifications department staff of the NASDAQ notifying iPass that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required. Since then, the staff determined that for the 10 consecutive business days, from March 9, 2016 to March 22, 2016, the closing bid price of the company–s common stock has been at $1.00 per share or greater. Accordingly, the company has regained compliance with Listing Rule 5450(a)(1) and this matter is now closed.
iPass (NASDAQ: IPAS) is a leading global provider of global mobile connectivity, offering convenient, secure, always-on Wi-Fi access on any mobile device. Built on a software-as-a-service (SaaS) platform, the iPass cloud-based service keeps its customers connected by providing unlimited Wi-Fi connectivity on unlimited devices. iPass has 50 million hotspots in more than 120 countries, at airports, hotels, train stations, convention centers, outdoor venues, inflight, and more. Using patented technology, iPass SmartConnect takes the guesswork out of Wi-Fi, automatically connecting customers to the best hotspot for their needs. Customers simply download the iPass app to experience unlimited, everywhere, and invisible Wi-Fi.
iPass® is a registered trademark of iPass Inc. Wi-Fi® is a registered trademark of the Wi-Fi Alliance. All other trademarks are owned by their respective owners.
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