The Nasdaq Listing Qualifications Panel has notified Trailer Bridge Inc. that it has regained compliance with Nasdaq's maintenance standards and its common stock will continue to be listed on the Nasdaq National Market.
Upon receipt of the favorable Nasdaq decision, Trailer Bridge completed the exchange of $20,378,615 of inter-company debt, the entire amount outstanding on March 31 to its K Corp. affiliate into non-convertible preferred stock. The exchange had been previously approved by both companies' boards of directors and was conditioned solely upon a favorable response from the Nasdaq panel.
Trailer Bridge provides integrated trucking and marine freight service to and from all points in the Lower 48 states and Puerto Rico.
