For the second time this year, Verticalnet Inc., of Malvern, said it received a delisting notice from the Nasdaq Stock Market. The company has requested a hearing from Nasdaq to appeal the decision.
Verticalnet announced the notice after markets closed yesterday. Shares were down 5 cents, to $2.44 in morning trading.
The business software company got a similar determination letter in May. In that case, the company regained compliance. But Verticalnet said that since the second notice has come within a year of the first, Nasdaq is not permitted to accept a plan of compliace, or grant additional time for the company to regain compliance.
Verticalnet announced in October that it is being bought for $15.2 million by a subsidiary of Italian cement company Italcementi Group.