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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
September 15, 2005
Date of Report (Date of earliest event reported)
Commission File Number: 000-27743
PAC-WEST TELECOMM, INC.
(Exact name of registrant as specified in its charter)
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California
(State or other jurisdiction of
incorporation or organization)
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68-0383568
(I.R.S. Employer Identification No.) |
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1776 W. March Lane, Suite 250
Stockton, California
(Address of principal executive offices)
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95207
(Zip Code) |
(209) 926-3300
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
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Item 3.01 |
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing. |
On
September 15, 2005,
Pac-West Telecomm, Inc. (Pac-West) received a letter from The Nasdaq Stock
Market (Nasdaq) notifying
Pac-West that for the 30 consecutive business days preceding the
date of the letter, the bid price of Pac-Wests common stock had closed below the $1.00 per share
minimum required for continued inclusion on the Nasdaq SmallCap Market pursuant to Nasdaq
Marketplace Rule 4310(c)(4). The letter further notified Pac-West that, in accordance with Nasdaq
Marketplace Rule 4310(c)(8)(D), Pac-West will be provided 180 calendar days, or until March 14,
2006, to regain compliance with the minimum bid price requirement. Compliance may be achieved if
the bid price per share of Pac-Wests common stock closes at $1.00 per share or greater for a
minimum of 10 consecutive business days prior to March 14, 2006. However, Nasdaq has the
discretion to require a period in excess of 10 business days before determining that the ability to
maintain long-term compliance has been demonstrated.
The letter from Nasdaq further stated that, if compliance with the minimum bid price requirement
cannot be demonstrated by March 14, 2006, but Pac-West otherwise meets the applicable initial
listing requirements, Pac-West may qualify for an additional 180 day compliance period. If
Pac-West is not eligible for an additional compliance period, Nasdaq will provide written notice to
Pac-West that its common stock will be delisted. In the event of such notification, Pac-West would
have an opportunity to appeal Nasdaqs determination to Nasdaqs Listing Qualifications Panel.
Pac-West intends to monitor the bid price between now and March 14, 2006, and consider available
options if its common stock does not trade at a level that is likely to result in Pac-West
regaining compliance with the minimum bid price requirement.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
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99.1 |
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Press release dated September 16, 2005. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has
duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
PAC-WEST TELECOMM, INC.
(Registrant)
Dated: September 16, 2005
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By: |
/s/ Peggy McGaw
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Peggy McGaw
Vice President Finance |
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INDEX TO EXHIBITS
99.1 Press release dated September 16, 2005.