BRIDGEVIEW, Ill., PRNewswire-FirstCall/ -- Veri-Tek International, Corp. ("Veri-Tek" or the "Company") announced today that it has received notification from The NASDAQ Stock Market LLC(R) that Veri-Tek's common stock is approved for listing on The NASDAQ Capital Market. Veri-Tek's Board of Directors has approved the decision to change the listing of Veri-Tek's common stock from The American Stock Exchange to The NASDAQ Capital Market. In addition, Veri-Tek's shareholders recently approved changing the company's name to Manitex International, Inc. Veri-Tek expects to effect the name change prior to its listing on The NASDAQ Capital Market. Veri-Tek currently is going through the required regulatory processes associated with the move to The NASDAQ Capital Market and expects its common stock to begin trading on NASDAQ under the symbol "MNTX" on Wednesday, May 28, 2008. Veri-Tek's common stock will continue to trade on The American Stock Exchange under its current symbol, "VCC," until such date.
"Our listing on NASDAQ marks a significant milestone in the transformation of our company," said David Langevin, Chairman and Chief Executive Officer. "During the past 18 months we have been consistent in our approach to strategic and corporate development, taking steps to strengthen our balance sheet, streamline our operations, and improve our financial performance. We believe that this move to the NASDAQ is in the best interests of our shareholders and we expect it to result in increased visibility within the investment community and additional liquidity in the capital markets for our common stock. In addition, we felt this was the right time to change our name to Manitex International, Inc., which is our largest and most well-known brand among our materials handling product lines. We expect that the name change will result in a clearer corporate identity to our customers as well as to the specialized lifting equipment industry in which we operate."
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