Business Context and Reporting Period
This Form 6-K filing by Tower Semiconductor Ltd. (TSEM) is dated August 27, 2009. The company operates as a global specialty foundry leader, with its subsidiary Jazz Semiconductor providing Analog-Intensive Mixed-Signal (AIMS) foundry solutions. Manufacturing facilities are located in Israel, the U.S., and China.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory compliance regarding stock listing requirements.
Material Changes
The primary material event reported is the company regaining compliance with the Nasdaq Minimum Closing Bid Price requirement of $1.00 per share. Tower Semiconductor completed the requirement of maintaining a closing bid price of at least $1.00 for 10 consecutive trading days on August 25, 2009.
Guidance, Outlook, and Risks
The filing confirms that the company received a letter from Nasdaq on August 26, 2009, confirming compliance with Listing Rule 5450(a)(1). The company believes it currently meets all requirements for continued listing on the Nasdaq Global Market, and its ticker symbol remains TSEM. The document includes a Safe Harbor statement regarding forward-looking statements, directing investors to the "Risk Factors" section in recent Forms 20-F, F-3, F-4, and 6-K for a complete discussion of risks and uncertainties.
Investor Verification Checklist
- Verify the continued listing status of TSEM on the Nasdaq Global Market.
- Confirm the date of the Nasdaq confirmation letter (August 26, 2009).
- Review the "Risk Factors" in the most recent Form 20-F for detailed business risks.
- Note that no financial performance data is included in this specific filing.