SED To Be Delisted From Nasdaq

SED International

SED does not have a value of $5 million market capitalization, which is required to be a publicly traded company on Nasdaq. Also, SED's stock price is below the $1-per-share minimum necessary for continued listing on the Nasdaq National Market and Nasdaq SmallCap.

The distributor is taking steps to accommodate trading of its common stock on the OTC Bulletin Board (OTCBB), a regulated quotation service that displays realtime quotes, last-sale prices and volume information in over-the-counter (OTC) equity securities.

"SED is focusing on executing its business plan and expects the move from the Nasdaq National Market to the OTCBB to have no impact on its day-to-day operations," said Gerald Diamond, chairman and CEO of SED, in a statement.

In addition, Elliott Cohen and Joel Cohen retired as members of the board of directors. They will not be replaced, according to the company.

SED's stock was trading at 42 cents per share, down 14 cents, or 25 percent, in afternoon trading Friday. The company's market capitalization was $1.6 million.