Novamerican Steel Securities Begin Trading on Nasdaq Capital Market
01/02/2008 - Novamerican Steel’s common stock and warrants to purchase have begun trading on the Nasdaq Capital Market.
Novamerican Steel Inc. announced that its common stock, $0.001 par value (“Common Stock”), and warrants to purchase one share of Common Stock (“Warrants” and, together with Common Stock, the “Securities”) began trading Dec. 31 on The Nasdaq Capital Market.
The Securities and Novamerican's units, consisting of one share of Common Stock and one Warrant
(“Units”), formerly traded on the American Stock Exchange. The Units, which had traded as a separate class of security, ceased to trade as such. All outstanding Units have been automatically separated into one share of
Common Stock and one Warrant.
"We believe the TONS symbol has been an integral part of the Novamerican awareness within the investor community and look forward to the continuity of that recognition as a new member of NASDAQ," said Corrado De Gasperis, Novamerican's CEO.
Novamerican has twenty-two operating locations in Canada and the United States. It processes and distributes carbon steel, stainless steel and aluminum products and operates as an intermediary between primary metal producers and manufacturers that require processed metal. Novamerican also produces roll-formed steel sections and manufactures heavy equipment parts and accessories. Novamerican's flat-rolled processing capabilities include pickling, slitting, blanking, leveling, temper-rolling and cutting-to-length to precise customer specifications. Novamerican also performs many of these processing services on a toll basis, i.e., for customers who provide their own steel.
