Heelys, Inc. said that on July 9 it received confirmation that the Nasdaq Stock Market had approved its application for the voluntary transfer of its common stock listing from the Nasdaq Global Market to the Nasdaq Capital Market. The company said the decision to transfer was made on a voluntary,
rather than involuntary, basis in order to achieve cost savings.
According to a filing with the Securities & Exchange Commission, the Heelys' common stock will commence trading on the Nasdaq Capital Market on July 14, 2009. The trading symbol of the Company's common stock – “HLYS” – will stay the same.
The NASDAQ Capital Market is one of the three market tiers for NASDAQ-listed stock, and it operates in substantially the same manner as the NASDAQ Global Market. Companies listed on the NASDAQ Capital Market must meet certain financial requirements and adhere to NASDAQ's corporate governance standards.
