Beyond.com Corp. (Nasdaq: BYND) was up 13/64 at 1 17/64 early Wednesday after the company said it will not be removed from the Nasdaq National Market System after coming in compliance with Nasdaq requirements.
A successful exchange offer raised the company’s net tangible assets to $30.2 million, well above the $4 million Nasdaq requirement, the company said. Noteholders exchanged some $62.3 million of existing convertible debt for about $41.6 million of new convertible debt.
“Retaining our listing on the Nasdaq National Market allows us to continue to focus on growing our e-commerce services and government reseller businesses, while reducing our expenses,” said Chief Financial Officer Curtis Cluff.
The Santa Clara, California-based company builds and manages online stores for businesses and sells software to government agencies.