ANADIGICS, Inc. (NASDAQ:ANAD) Receives Compliance Notice From NASDAQ

On June 18, 2015, ANADIGICS, Inc. received a letter from the staff of The NASDAQ Stock Market LLC providing notification that, for the previous 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Global Select Market under Nasdaq Listing Rule 5550(a)(2).

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until December 15, 2015, to regain compliance. If at any time before December 15, 2015, the bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide the Company with written confirmation of compliance.

If the Company does not regain compliance with Rule 5550(a)(2) by December 15, 2015, the Company may be eligible for an additional 180 calendar days compliance period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period. However, if it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the Staff would notify the Company that its securities would be subject to delisting. In the event of such notification, the Company may appeal the Staff’s determination to delist its securities, but there can be no assurance the Staff would grant the Company’s request for continued listing.

The Company is actively monitoring the bid price of its common stock and its minimum market value of listed securities and will consider and implement any and all options available to it to achieve compliance, including, without limitation, effecting a reverse stock split.

ANADIGICS, Inc. is engaged in the designing and manufacturing of radio frequency (RF) semiconductor solutions for infrastructure and mobile communications and data transmission markets.

The Company’s product portfolio includes line amplifiers, reverse path amplifiers, power amplifiers (PAs) and front-end integrated circuits (FEIC). The Company designs, develops, and manufactures RFIC’s primarily using GaAs compound semiconductor substrates with various process technologies, including metal semiconductor field effect transistor (MESFET), pseudomorphic high-electron-mobility transistor (pHEMT) and heterojunction bipolar transistor (HBT). The Company’s InGaP-Plus technology, combines InGaP HBT and pHEMT processes on a single substrate and integrates the PA function and the RF active switch function on the same die. Additionally, the Company offers VCSEL process technology. The Company fabricates its ICs in its six-inch diameter GaAs wafer fabrication facility.

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