Troubled Electroglas files Chapter 11 Jul 11, 2009
Electroglas Inc., a supplier of wafer probers, has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code. The move did not surprise analysts, as Electroglas has been spilling red ink and struggled for years ... The current plan is for certain bondholders to provide debtor in possession financing to sustain Electroglas during the bankruptcy process and for it to conduct an auction to sell the company. (EETimes)
Electroglas delisted from Nasdaq Mar 24, 2009
Electroglas cut 15 percent of its work force earlier and reduced salaries by 15 percent for the remaining staff, but said those actions weren't enough "to compensate for the precipitous drop in revenue" in its third quarter. Earlier this month Comerica Bank limited additional money Electroglas could borrow from $3. (San Jose Business Journal, CA)
Electroglas to Transition to Over-the-Counter Bulletin Board Mar 21, 2009
Source: Electroglas, Inc. ... March 20, 2009 (GLOBE NEWSWIRE) -- Electroglas, Inc. announced today that it has received notification that the Company's securities will be delisted from The NASDAQ Stock Market, effective with the open of business on Monday, March 23, 2009 ... Electroglas, Inc. Investor and Shareholder Contact: Tom Brunton, CFO (408) 528-3300 tbrunton@electroglas. (Primezone Releases)
Electroglas to be delisted from Nasdaq Mar 21, 2009
SAN FRANCISCO Semiconductor manufacturing equipment vendor Electroglas Inc. will be delisted from the Nasdaq stock market effective March 23, the company said Friday (March 20). Electroglas said it was notified of the delisting following the company's withdrawal of a request for an appeal hearing in front of the Nasdaq listing qualifications staff to determine if the company could remain listed despite non-compliance with a Nasdaq rule requiring companies to maintain at least $2 ... Electroglas... (EETimes)
