TRAILER BRIDGE WINS APPEAL TO REMAIN ON NASDAQ

TRAILER BRIDGE WINS APPEAL TO REMAIN ON NASDAQ

Trailer Bridge Inc., a provider of integrated trucking and marine freight service between the U.S. mainland and Puerto Rico, has been told by NASDAQ that its common stock will continue to be listed on The NASDAQ National Market.

   NASDAQ’s Listing Qualifications Panel notified Trailer Bridge that, based on a transaction finalized on Tuesday, Trailer Bridge had regained compliance with NASDAQ’s maintenance standards.

   Upon receipt of the favorable decision by the NASDAQ panel, Trailer Bridge completed the exchange of $20.4 million of inter-company debt to its affiliate Kadampanattu Corp. into non-convertible preferred stock.

   This was Trailer Bridge’s entire amount of debt outstanding on March 31.

   “We are grateful to Kadampanattu Corp for agreeing to this change. We are also appreciative for the insight of the listing panel in recognizing the facts related to our company, our sector, and our present point in a specific cycle justify Trailer Bridge’s continued listing on The NASDAQ National Market,” said John D. McCown, chairman and chief executive officer of Trailer Bridge, based in Jacksonville, Fla.