Urban One, Inc. Receives Additional Nasdaq Staff Determination; Today Files Quarterly Reports For The Periods Ended March 31, 2023 And June 30, 2023
Portfolio Pulse from Benzinga Newsdesk
Urban One, Inc. received an Additional Staff Delisting Determination from Nasdaq due to the delinquency in filing its Q3 2023 Form 10-Q. The company has filed its overdue quarterly reports for Q1 and Q2 of 2023 and plans to file the Q3 report by December 31, 2023. A hearing with the Nasdaq Hearings Panel is scheduled for November 30, 2023, to discuss the company's continued listing, with a granted extension to stay any trading suspension until the hearing's outcome.
November 20, 2023 | 8:38 pm
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Urban One, Inc. is at risk of being delisted from Nasdaq due to filing delinquencies. The company has filed its Q1 and Q2 2023 reports and plans to file the overdue Q3 report by year-end. A Nasdaq hearing on November 30 will be crucial for its continued listing.
The risk of delisting is a significant negative factor for any publicly-traded company. Although Urban One has made progress by filing overdue reports for Q1 and Q2, the uncertainty surrounding the Q3 filing and the upcoming hearing may lead to negative investor sentiment in the short term, potentially impacting the stock price negatively.
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IMPORTANCE 90
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