The automated teller machine operator TRM Corp. has appealed its pending delisting from the Nasdaq Stock Market Inc.
The Portland, Ore., company received notice March 12 that its shares did not meet the minimum price to be listed on the Nasdaq global market. On Tuesday, TRM said its request to transfer its listing to the Nasdaq capital market had been rejected for that reason.
TRM said it had anticipated the transfer request would give the company 180 days to meet the price requirement, but Nasdaq later said it would not grant the extension, because the shares did not meet the initial listing requirements for its capital market.
Nasdaq plans to delist the stock at the start of trading today, but TRM said its appeal could delay that action.
