MILTON, N.Y., Aug. 11, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sono-Tek Corporation (OTCQX: SOTK), the leading developer and manufacturer of ultrasonic coating systems, today announced that it has submitted an application to uplist its common stock to the NASDAQ Capital Market.
Dr. Christopher L. Coccio, CEO and Chairman of Sono-Tek, commented, “Sono-Tek has a strong financial base, has demonstrated excellent revenue growth and maintains a positive outlook for continued expansion, making this an opportune time to apply to uplist the Company’s shares to the NASDAQ Capital Market. We believe that this transition will increase corporate visibility, improve our stock’s trading liquidity, and broaden awareness of Sono-Tek in the investment community. If successful, this action would mark a return to NASDAQ for Sono-Tek which traded in that market for many years beginning when the company went public in 1987. After trading on NASDAQ, the stock began to trade on the OTC Markets when the share price fell below NASDAQ’s requirements, and now, after years of work and investment, our share price, market capitalization, company profitability and other metrics are strong again, reflecting the Company’s leading market position and standing in the ultrasonic coating system industry.”
Acceptance for listing the Company’s shares is subject to approval and satisfaction of several factors, including minimum listing requirements for the Nasdaq Capital Market. The Company is optimistic that it can satisfy all of the applicable listing requirements, however, there is no assurance that its application will be approved.
Sono-Tek Corporation is the leading developer and manufacturer of ultrasonic coating systems for applying precise, thin film coatings to protect, strengthen or smooth surfaces on parts and components for the microelectronics/electronics, alternative energy, medical and industrial markets, including specialized glass applications in construction and automotive.
The Company’s solutions are environmentally-friendly, efficient and highly reliable, and enable dramatic reductions in overspray, savings in raw material, water and energy usage and provide improved process repeatability, transfer efficiency, high uniformity and reduced emissions.
Sono-Tek’s growth strategy is focused on leveraging its innovative technologies, proprietary know-how, unique talent and experience, and global reach to further develop microscopic coating technologies that enable better outcomes for its customers’ products and processes.
For further information, visit www.sono-tek.com.