Full Press Release Details
| SPACEHAB, Inc. | |
| 12130 Highway 3, Bldg. 1 | |
| Webster, Texas 77598-1504 | |
| 1.713.558.5000 | |
| fax: 1.713.558.5960 | |
| www.spacehab.com |
ANNOUNCES RECEIPT OF NASDAQ DEFICIENCY LETTER
Houston, Texas, October 22, 2007
SPACEHAB, Incorporated (NASDAQ: SPAB), a leading provider of commercial space
services, today announced that as a result of the resignation of Myron J. Goins
as a director of SPACEHAB, Inc. effective October 16, 2007, the Company
received a letter from The NASDAQ Stock Market notifying the Company that it no
longer complies with the NASDAQ independent director and audit committee
Consistent with Marketplace
Rule 4350(c)(1), which requires that a majority of the board of directors consist
of independent directors, and 4350(d)(4) requiring the participation of three independent directors on the audit
committee, NASDAQ will provide the Company a cure period in order to
regain compliance until the earlier of the Company s next annual shareholder s
meeting, or October 16, 2008; or if the next annual shareholder s meeting is
held before April 14, 2008, then the Company must evidence compliance no later
than April 14, 2008.
If the Company fails to regain
compliance within the prescribed cure period, its common stock is subject to
delisting upon notification of such a determination by NASDAQ staff, which
determination may be appealed.
About SPACEHAB, Incorporated
Incorporated in 1984, SPACEHAB (www.spacehab.com) is a leading provider
of commercial space products and services to NASA, international space agencies
and universities, Department of Defense, and private customers worldwide. The
Company offers end-to-end space access solutions, space systems development,
mission integration and pre-launch processing facilities and services, and
large-scale government program support services.
The statements in this document may contain
forward-looking statements that are made pursuant to the Safe Harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that could cause
actual results to be materially different from the forward-looking statement.
These factors include, but are not limited to, continued government support and
funding for key space programs, product performance and market acceptance of
products and services, as well as other risk factors and business
considerations described in the company s Securities & Exchange Commission
filings including the annual report on Form 10-K. Any forward-looking
statements in this document should be evaluated in light of these important
risk factors. The Company assumes no obligation to update these forward-looking
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