Tricord Systems Inc, which was in severe danger of being de- listed from the Nasdaq exchange last year when its shares fell below the closing requirement for continued listing, says it is now meeting the listing requirements, and will continue to be traded on the Nasdaq SmallCap market. Late last year, Tricord closed a $3m private placement of restricted securities and warrants, with Rod Canion, founder and former chief executive of Compaq Computer Corp, as the lead investor in the funding. Tricord withdrew from the Intel server market last year and began to reinvent itself as a company developing storage system management software for Windows NT. But as its server business dwindles, revenue from the new software products isn’t expected to materialize until the second half of 1999. In September of last year, the Plymouth, Minnesota-based company’s shares were trading at below $1. Yesterday, the shares closed up 11.76% to $2.24.
