NAPLES, Fla., March 25, 2019 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American: FTNW), a leading provider of innovative technology solutions for smart platforms, network infrastructure and intelligent buildings, received a public reprimand letter dated March 25, 2019 from the NYSE Regulation Staff of the New York Stock Exchange based on its noncompliance with sections 301 and 713 of the NYSE American LLC Company Guide.

Specifically, the Letter states that the Company failed to file an application to obtain Exchange approval for the issuance of additional shares of the Company’s common stock as required under Section 301 of the Company Guide and failed to obtain shareholder approval of an issuance that exceeded 20% of the Company’s common stock outstanding, as required under Section 713 of the Company Guide. The shares at issue are described in the Company’s Form 8-K/A filed on March 22, 2019. The Company is working with the Exchange on remediation plans.

About FTE Networks, Inc.

FTE Networks, Inc. is a leading provider of innovation technology. We enable adaptive and efficient smart network connectivity platforms, infrastructure and buildings. FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, residential and commercial properties. We create transformative smart platforms and buildings. FTE's services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading-edge projects and services. The Company works with Fortune 100/500 companies, including some of the world's leading Telecommunications and IT Services Providers as well as REITs and Media Providers.