News & Events

March 2010

Zhone Technologies Regains Compliance with Nasdaq Minimum Bid Price Rule

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in network access solutions for fiber, copper and wireless broadband infrastructures, announced today that it has received notice from The Nasdaq Stock Market (“Nasdaq”) confirming that the Company has regained compliance with the $1.00 minimum bid price requirement for continued listing on Nasdaq. [...]

Zhone Adds EFM to Its MXK Platform for Mobile Backhaul Giving Network Operators the Industry's Only Built-In Migration Path from Copper to Terabit-Scale Fiber Access

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in network access solutions for fiber, copper and wireless broadband infrastructures, today announced EFM line cards for its new flagship MXK multi-service access platform (MSAP). Zhone also cited global shipments for the MXK in excess of 325 systems since announcing the platform just over two quarters ago, with growth of its global customer base to 750 telecom providers worldwide. [...]

Zhone Technologies Renews Credit Facility with Silicon Valley Bank

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in network access solutions, announced today that it has renewed its credit facility with Silicon Valley Bank. The facility provides working capital financing of up to $25.0 million to support borrowings and letters of credit. Zhone has renewed this facility every year since 2003 on substantially similar terms. Details of the arrangement can be found in the loan agreement and disclosures included in Zhone’s Annual Report on Form 10-K for t... [...]

Zhone Technologies' Common Stock to Begin Trading on Adjusted Basis on March 12 Following One-for-Five Reverse Stock Split

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in network access solutions, today announced that the previously announced one-for-five reverse stock split of Zhone's common stock will become effective as of 11:59 p.m. EST on March 11, 2010 and that Zhone shares will trade on a post-split basis beginning on March 12, 2010. The new CUSIP number for Zhone's common stock will be 98950P884. [...]

Zhone Technologies' Board of Directors Approves One-for-Five Reverse Stock Split

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in network access solutions, today announced that its Board of Directors approved a one-for-five reverse stock split of its common stock which will become effective on or about March 11, 2010. The reverse stock split was authorized by Zhone’s shareholders at a special meeting held on October 16, 2008. [...]

Zhone Technologies Conducts Search for Board and Audit Committee Replacement and Receives NASDAQ Deficiency Notice Relating to Audit Committee

Zhone Technologies, Inc. (NASDAQ: ZHNE), a global leader in network access solutions, announced today that on March 2, 2010, Zhone received a notice of deficiency from The NASDAQ Stock Market (“NASDAQ”) indicating that it no longer complies with the independent audit committee requirements for continued listing on NASDAQ. Specifically, NASDAQ Listing Rule 5605 requires that the audit committee be comprised of at least three independent directors. As previously reported, Mr. Steven Levy resigned ... [...]