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8-K - CURRENT REPORT - SMITH MIDLAND CORP | smid-nasdaqlisting_8kpr.htm |
Exhibit
99.1
Smith-Midland Uplisting to The NASDAQ Capital Market
MIDLAND, VA / November 12, 2020 / Smith-Midland
Corporation (NASDAQ:SMID), which
develops, manufactures, licenses, rents and sells a broad array of
precast concrete products, services, and systems for use primarily
in the construction, transportation and utilities industries, is
pleased to announce that NASDAQ approved the Company’s
common stock for listing on The NASDAQ Capital Market.
Smith-Midland will continue trading under its current symbol SMID.
Trading on The NASDAQ Capital Market is expected to commence during
the week of November 16, 2020.
“Smith-Midland’s
uplisting to The NASDAQ Capital Market is an important step in our
journey to help facilitate our next phase of growth and to increase
long-term shareholder value,” stated Chief Executive Officer
and President, Ashley Smith. “Since inception in 1960, our
expansion and diversification of products has continuously evolved
as we leverage creative problem solving, engineering and expert
craftsmanship in our designs. We are humbled by this monumental
achievement, and remain committed to innovation, quality and
service as the cornerstones of our business. I want to thank our
dedicated team members and our shareholders for their support in
our process to increase long-term shareholder
value.”
“NASDAQ
is the ideal platform for the continued growth of
Smith-Midland,” said Chief Financial Officer, AJ Krick.
“The benefits of uplisting include broadening our universe of
potential shareholders, enhanced visibility within the investment
community, and the opportunity to increase liquidity of the
stock.”
About Smith-Midland Corporation
Smith-Midland
develops,
manufactures, licenses, rents and sells a broad array of precast
concrete products, services, and systems for use primarily in the
construction, transportation and utilities industries.
Management and the board own approximately 17.5 percent of SMID
stock, aligning with shareholder values. More information is
available at www.smithmidland.com
Forward-Looking Statements
This
announcement contains forward-looking statements, which involve
risks and uncertainties. The Company's actual results may differ
significantly from the results discussed in the forward-looking
statements. Factors which might cause such a difference include,
but are not limited to, the risk that the COVID-19 outbreak may
adversely affect future operations, product demand, the impact of
competitive products and pricing, capacity and supply constraints
or difficulties, general business and economic conditions, our debt
exposure, the effect of the Company's accounting policies and other
risks detailed in the Company's Annual Report on Form 10-K and
other filings with the Securities and Exchange
Commission.
Contacts:
Smith-Midland Corp.
AJ Krick, CFO
540-439-3266
investors@smithmidland.com
Three Part Advisors
Steven Hooser or Deidra Roy
214-872-2710
shooser@threepa.com;droy@threepa.com