Violin Memory Common Stock Begins Trading on OTCQX

Violin Memory, Inc. announced that shares of its common stock began trading on the OTCQX market on October 28, 2016.

The OTCQX market offers transparent and efficient trading of the securities of established U.S. and international companies. To qualify for the OTCQX market, companies must meet financial standards, demonstrate compliance with corporate governance standards, and, with respect to Violin, be in compliance with SEC reporting and disclosure requirements.

Violin’s common stock will trade on the OTCQX under the company’s New York Stock Exchange symbol VMEM.

On October 27, 2016, the New York Stock Exchange issued a press release announcing that the staff of NYSE Regulation determined to suspend trading immediately and commence proceedings to delist Violin’s common stock from the NYSE because Violin is not in compliance with the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a thirty trading-day period of at least $15 million. On October 28, 2016, the NYSE notified Violin in writing of the determination to suspend trading and commence proceedings.

Violin has the right to a review of NYSE Regulation’s determination by a committee of the board of directors of the NYSE, and that the NYSE will apply to the SEC to delist Violin’s common stock upon completion of all application procedures, including any appeal by Violin of NYSE Regulation’s determination. Violin will consider all of its options, including its option to pursue a review, in responding to the NYSE notification.

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