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EX-99.1 - CONDOR HOSPITALITY TRUST, INC.sppr8k_sept25release.htm


UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
 
WASHINGTON, DC 20549
 
FORM 8-K
 
CURRENT REPORT PURSUANT
 
TO SECTION 13 OR 15(D) OF THE
 
SECURITIES EXCHANGE ACT OF 1934
 
September 25, 2012
Date of report (Date of earliest event reported)
 
Supertel Hospitality, Inc.
(Exact Name of Registrant as Specified in Its Charter)
 
Virginia
(State or Other Jurisdiction of Incorporation)
 
1-34087
52-1889548
(Commission File Number)
(IRS Employer Identification No.)
1800 West Pasewalk Avenue, Suite 200
 
Norfolk, NE
68701
(Address of Principal Executive Offices)
(Zip Code)

(402) 371-2520
(Registrant’s Telephone Number, Including Area Code)
 

(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

Item 3.01.  Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
 
As previously disclosed, the Company received a notice dated June 29, 2012 from The NASDAQ Stock Market stating that the minimum bid price of its common stock was below $1.00 per share for 30 consecutive business days and that the Company was therefore not in compliance with Marketplace Rule 5450(a)(1).  The notification letter had no effect at that time on the listing of the Company’s commons stock on The NASDAQ Global Market.  The Company’s common stock continued to trade on The NASDAQ Global Market under the symbol SPPR.
 
On September 25, 2012, the Company received a notice from The NASDAQ Listing Qualifications that the staff had determined that for the last 10 consecutive business days, from September 11, 2012 to September 24, 2012, the closing bid price of the Company’s common stock has been at $1.00 per share or greater.  The staff advised that the Company has regained compliance with Listing Rule 5450(a)(1) and this matter is now closed.
 

 
(d)
Exhibits.
99.1
Press Release dated September 25, 2012.

 
 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Supertel Hospitality, Inc.
 
   
Date:  September 25, 2012
By:  /s/ Corrine L. Scarpello
 
Name: Corrine L. Scarpello
 
Title:   Chief Financial Officer


 
 

 

EXHIBIT INDEX
 
Exhibit
Description
 
99.1
Press Release dated September 25, 2012.