MIDDLETOWN, R.I., July 25, 2016 (GLOBE NEWSWIRE) -- Towerstream Corporation (NASDAQ:TWER), a leading Fixed-Wireless Fiber Alternative company, announced today that it received confirmation that as of July 21, 2016, the Company has evidenced a closing per share bid price of its common stock in excess of NASDAQ’s $1.00 minimum closing bid price requirement for at least ten consecutive trading days. Accordingly, the Company complies with NASDAQ Listing Rule 5550(a)(2) and will continue to trade on The NASDAQ Capital Market. As previously announced, the Company also has obtained an extension, through November 22, 2016, to satisfy the minimum shareholder equity of $2.5 million required for continued listing.

About Towerstream Corporation

Towerstream Corporation (NASDAQ:TWER) is a leading Fixed-Wireless Fiber Alternative company delivering high-speed Internet access to businesses. The Company offers broadband services in 12 urban markets including New York City, Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno, and the greater Providence area.