FUEL TECH, INC. : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)
January 10, 2020 at 04:23 pm EST
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 7, 2020, Fuel Tech, Inc. (the "Company") received a letter from the
Listing Qualifications Department of The NASDAQ Stock Market ("NASDAQ")
notifying the Company that, based upon the closing bid price of the Company's
common stock that trades under the symbol "FTEK" ("Common Stock"), for the last
30 consecutive business days the Common Stock did not meet the minimum bid price
of $1.00 per share required for continued listing on NASDAQ pursuant to NASDAQ
Listing Rule 5450(a)(1) (the "Minimum Bid Rule"), initiating an automatic 180
calendar-day grace period for the Company to regain compliance.
The notice has no immediate effect on the listing or trading of the Company's
Common Stock, and the Common Stock will continue to trade on the NASDAQ under
the symbol "FTEK".
In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has a period
of 180 calendar days from the date of the notification, or until July 6, 2020 to
achieve compliance with the Minimum Bid Rule. The Company will regain compliance
with the Minimum Bid Rule if at any time before July 6, 2020, the bid price for
the Company's Common Stock closes at or above $1.00 per share for a minimum of
10 consecutive business days.
The Company intends to meet the requirements for the Minimum Bid Rule in the
future. This may include seeking the approval of stockholders at the Company's
next annual meeting to effect a reverse stock split.
Fuel Tech, Inc. is a technology company, which is engaged in the development, commercialization and application of proprietary technologies for air pollution control, process optimization, water treatment and advanced engineering services. It has two segments: Air Pollution Control technology and FUEL CHEM technology. The Air Pollution Control technology segment includes technologies to reduce oxides of nitrogen (NOx) emissions in flue gas generated by the firing of natural gas or coal from boilers, incinerators, furnaces and other stationary combustion sources. These include NOxOUT and HERT Selective Non-Catalytic Reduction (SNCR) systems, and Selective Catalytic Reduction (SCR) systems. The FUEL CHEM technology segment uses chemical processes in combination with advanced computational fluid dynamics and chemical kinetics modeling boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in coal-fired furnaces and boilers.
FUEL TECH, INC. 
