MADISON, Wis., Jan. 24, 2022 (GLOBE NEWSWIRE) — Sonic Foundry, Inc. (NASDAQ: SOFO) today announced that the Nasdaq Stock Market LLC (“Nasdaq”) has approved its application for uplisting the Company’s common stock to the Nasdaq Capital Market. Sonic Foundry’s common stock is expected to commence trading on the Nasdaq Capital Market at the opening of the market on Tuesday, January 25, 2022, under the Company’s current ticker symbol “SOFO.” Shareholders are not required to take any action as a result of the uplisting.
Sonic Foundry, a trusted leader in video creation, management and event solutions, enables corporate and government enterprises, higher education and associations to connect with their teams, customers and members via video. Its award-winning Mediasite platform addresses every aspect of the video lifecycle by recording, enhancing, archiving, and delivering large volumes of video— anytime and on any device.
“Our uplisting signals our solid progress in stabilizing the business as well as our long-term potential to be the leader in this new era of video engagement that will span across all sectors from corporate, healthcare, government to education,” said Joe Mozden Jr., Chief Executive Officer of Sonic Foundry. “Our improved financial health, industry-leading video management and delivery solutions, and the talented team we’ve assembled provide the foundation for dramatic growth going forward.”
“We believe the pandemic is a 10-year accelerant in the way people create and consume video content, and Sonic Foundry is uniquely positioned to build upon our 30-year leadership in providing solutions that empower companies to advance their digital-first profile in scalable and cost-effective ways. Being on the Nasdaq Capital Market expands our audience of investors to improve the liquidity of our stock as we seek to create long-term shareholder value by moving boldly to execute our strategic growth initiatives. Our entire team is incredibly energized by the opportunities before us,” concluded Mozden.
Sonic Foundry will announce results for its first quarter of fiscal year 2022 on February 10 and will provide more information on its strategic growth plan at that time.
About Sonic Foundry®, Inc.
Sonic Foundry (NASDAQ: SOFO) is the global leader for video capture, management and streaming solutions as well as virtual and hybrid events. Trusted by thousands of educational institutions, corporations, health organizations and government entities in over 65 countries, Sonic Foundry’s solutions include Mediasite®, Mediasite Connect, Vidable™ and Global Learning Exchange™.
© 2022 Sonic Foundry, Inc. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.