Ann Arbor defense company Arotech trying to stay on Nasdaq exchange

Ann Arbor-based defense contractor and battery systems maker Arotech Corp. is trying to avoid being delisted on the Nasdaq Stock Market according to a report from Crain’s Detroit Business.

According to the report, the company’s shares traded consistently below $1 from June through late October when the company announced it had signed a deal to sell significant assets to an Israeli company for just $50,000. Nasdaq’s marketplace rules require a minimum $1 bid price for stocks to be listed.

The company hopes to keep its stock price above the threshold as it builds on a new $1.3 million order to its Battery and Power Systems Division from an undisclosed foreign government.

Click here to read the full story on Crain’s Detroit Business.

Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2