Spacehab, a Texas company that soared into orbit building habitable modules for the space shuttle’s cargo bay, has seen its fortunes fall back to Earth in recent years. Its shares closed Wednesday at 48 cents on NASDAQ.
On Monday, NASDAQ notified Spacehab that it faces being delisted from the exchange for failure to maintain the minimum $1.00 per share closing bid over the preceding 30 trading days. The company has until October 6, 2008, to demonstrate compliance with the standard.
In an SEC filing dated April 8, Spacehab said it “has not yet determined what action, if any, it will take in response to this letter, although the Company intends to monitor the closing bid price of its common stock between now and October 6, 2008, and to consider available options if its common stock does not trade at a level likely to result in the Company regaining compliance with The NASDAQ Stock Market minimum closing bid price requirement.”
Spacehab had been hoping to sell 55,000 shares of stock to investors in February. However, that sale was contingent upon winning a contract under NASA’s Commercial Orbital Transportation Services program. That contract went to Orbital Science Corporation instead.