COMSovereign Announces Receipt Of Nasdaq Listing Determination; Company To Request Hearing And Further Stay
Portfolio Pulse from Benzinga Newsdesk
COMSovereign Holding Corp. (NASDAQ:COMS) has received a notice from the Nasdaq Listing Qualifications Staff indicating that the company's securities will be delisted from Nasdaq due to non-compliance with the filing requirement. The company has not yet filed its Form 10-K for the year ended December 31, 2022, and Forms 10-Q for the periods ended March 31, 2023, and June 30, 2023. COMSovereign plans to request a hearing before the Nasdaq Hearings Panel to present its plan to comply with Nasdaq's filing requirement and request an extension.
October 20, 2023 | 8:08 pm
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NEGATIVE IMPACT
COMSovereign's potential delisting from Nasdaq due to non-compliance with filing requirements could negatively impact its stock price.
The potential delisting of COMSovereign from Nasdaq due to non-compliance with filing requirements could lead to a decrease in investor confidence, which could negatively impact the company's stock price. The company's plan to request a hearing and extension could mitigate some of this impact, but uncertainty remains.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100