Bish's Nasdaq plans for Kofax

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An excerpt from a story on Kofax’ Transform appearing in this week’s premium edition of DIR:

Kofax CEO Reynolds Bish believes a listing on the Nasdaq could have positive affects. “It has taken us quite a bit of work to prepare the information required by the SEC to list on the Nasdaq,” Bish told DIR. “Now that that has all been completed, we want to move ahead with our listing. Previously, I said I’d like to get it done by June 30, but that will likely be delayed due to a poor second quarter (ended Dec. 31). I’m thinking we will still file in the current calendar year, but not until we’ve demonstrated that we’ve turned around our business and built some momentum.”

Bish’s plan is to list Kofax on the Nasdaq through the provisions of the JOBS (Jumpstart Our Business Startups) Act, which was passed last year. According to Bish, listing through JOBS is an easier process than following the traditional listing route, which requires compliance with Sarbanes-Oxley. “Our plan is to make available on the Nasdaq the minimum number of shares we are allowed,” said Bish. “The Nasdaq listing will enable all our shares to be traded on both exchanges [Kofax is currently traded on the London Stock Exchange (LSE)], and eventually, we expect the majority of our trading will move over to the Nasdaq. This will be a positive because historically companies like ours are valued at a 30% premium on the Nasdaq compared to the LSE.”

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