Crain's Detroit Business: Ann Arbor defense company Arotech trying to stay on Nasdaq exchange

By Ben Freed Business Reporter

Posted on Tue, Nov 20, 2012 : 11:38 a.m.

Ann Arbor-based defense contractor and battery systems maker Arotech Corp. is trying to avoid being delisted on the Nasdaq Stock Market according to a report from Crain’s Detroit Business.

According to the report, the company’s shares traded consistently below $1 from June through late October when the company announced it had signed a deal to sell significant assets to an Israeli company for just $50,000. Nasdaq’s marketplace rules require a minimum $1 bid price for stocks to be listed.

The company hopes to keep its stock price above the threshold as it builds on a new $1.3 million order to its Battery and Power Systems Division from an undisclosed foreign government.

Click here to read the full story on Crain’s Detroit Business.

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Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2