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VirnetX Soars Following Award of Contract by General Services Administration
Shares of VirnetX are moving higher after the company announced last night that it has been awarded a General Services Administration multiple award schedule contract. "This designation makes VirnetX an approved technology provider for federal, state, and local government agencies seeking mission-critical cybersecurity, secure communications, and digital-engineering capabilities under pre-negotiated terms and pricing," the company said in a statement. VirnetX shares are up 40%, or $6.75, to $23.75 in midday trading.
VirnetX Receives GSA Schedule Contract
VirnetX announced that it has been officially awarded a General Services Administration Multiple Award Schedule contract. This designation makes VirnetX an approved technology provider for federal, state, and local government agencies seeking mission-critical cybersecurity, secure communications, and digital-engineering capabilities under pre-negotiated terms and pricing. "Being awarded a GSA Schedule contract is a major step forward for VirnetX," said Kendall Larsen, CEO and president of VirnetX. "It validates our commitment to delivering trusted, cybersecurity solutions to government agencies seeking unbreachable, managed attribution technology. This achievement expands our ability to rapidly support the government's digital modernization efforts, from secure communications to battle management solutions that help protect critical infrastructure and national interests."
VirnetX to Move Its Listing from NYSE to Nasdaq
VirnetX announced that it will voluntarily transfer its stock exchange listing to Nasdaq from the New York Stock Exchange, effective on or about September 22 after market close. The company expects to begin trading as a Nasdaq-listed company on or about September 23 and will continue to trade under its current ticker symbol.
VirnetX names John Anthony Jamison CTO
VirnetX announced that it has hired John Anthony Jamison as new VirnetX CTO. Most recently, Jamison was the CTO at an AI/ML start-up, OmniTeq, where he worked to developed commercial services in the fields of bioinformatics, energy and power optimization, and climate related analytics.
VirnetX receives NYSE non-compliance notification
VirnetX received a notice from the NYSE that the company is not in compliance with the NYSE's Listed Company Manual because its average global market capitalization over a consecutive 30 trading-day period was less than $50M, and, at the same time, its stockholders' equity was less than $50M. The Notice does not have an immediate impact on the listing of the company's common stock and does not affect the company's business operations or its SEC reporting requirements. Within 45 days from receipt of the Notice, the company intends to submit a plan to the NYSE advising it of the definitive action the company has taken, is taking, or plans to take that would bring it into conformity with the continued listing standards. If the NYSE accepts the company's plan, the company's common stock will continue to be listed and traded on the NYSE during the 18-month cure period, subject to the company's compliance with other NYSE continued listing standards and continued periodic review by the NYSE of the company's progress with respect to its plan.
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