LAS VEGAS, July 22, 2002 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) today announced that the company will begin trading its securities on the Nasdaq SmallCap Market effective today. The company's securities will continue trading under its current symbol: PPRO.
The company said, "Transferring our securities from the Nasdaq National Market to the Nasdaq SmallCap Market enables PurchasePro to maintain a trading profile on a well-regulated and transparent market, as well as removing concerns regarding PurchasePro's continued Nasdaq listing compliance."
The Nasdaq SmallCap Market provides PurchasePro with 180 days to comply with Nasdaq's SmallCap listing standards and additional 180-day grace period if the company remains in compliance with the core initial listing standards of Nasdaq.
About PurchasePro
PurchasePro(r), www.purchasepro.com, is a B2B e-commerce leader with the objective of providing software to enable enterprises of all sizes to gain universal access to the world's largest commerce network. Founded in 1996, PurchasePro provides electronic procurement, strategic sourcing and materials management solutions to businesses worldwide.
This news release may include forward-looking statements, which are subject to the "Safe Harbor" created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve certain risks and uncertainties that can cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent only the views of certain members of management and are based on limited information available to us now, which is subject to change. We have no current plan to update these statements. Actual results may differ substantially from what we say today and no one should assume at a later date that the forward-looking statements provided herein are still valid. They speak only as of today. For more information about these risks and uncertainties, see the "Risks and Uncertainties" discussions included in the SEC filings of PurchasePro.com, Inc., that are available from the company on request and on the Internet at the SEC's website, www.sec.gov including our Form 10-Q filing for the period ended March 31, 2002. Note: PurchasePro is a service mark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.