San Antonio-based Payment Data Systems, which processes online payments for other companies, announced Tuesday that it has received confirmation that its common stock will begin trading on the NASDAQ Capital Market starting Aug. 11th.
In addition, Michael Long, chairman and CEO of Payment Data Systems and Louis Hoch, the company’s president, will ring the opening bell at the NASDAQ MarketSite in Times Square in New York on Monday, Dec. 21st.
Payment Data System’s common stock, will be traded under the ticker symbol, PYDSD. Its stock will continue to trade on the OTCBB and the OTCQB until market close on Aug. 10th.
“After 20 days, or on August 20, the Company’s ticker symbol will revert to trading as PYDS from PYDSD on NASDAQ,” according to the company.
“Our listing on the NASDAQ Capital Market is a major corporate milestone for our company and a testament to the tremendous progress we have made over the past few years,” Long said in a news statement. Furthermore, we believe that the listing on NASDAQ will help broaden our shareholder base, increase appeal to institutional investors, provide us with better liquidity and ultimately contribute to increasing shareholder value.”
Payment Data Systems also has a wholly-owned subsidiary, FiCentive, which provides a turn-key prepaid card solution to businesses and others. The company reported record revenue in 2014 of $13.4 million, up 159 percent from a year earlier. The company also acquired Akimbo Financial, a San Antonio-based startup that sells and markets pre-paid credit cards, last December for $3 million.
Disclosure: Akimbo is an advertiser with Silicon Hills News