Inspired Entertainment Addresses Nasdaq Compliance Notice
Inspired Entertainment has encountered a regulatory hiccup. The company received a formal notification from the Nasdaq Listing Qualifications Department, indicating a non-compliance issue due to the delayed submission of its Form 10-K for the fiscal year ending December 31, 2023.
Impact on Nasdaq Listing
This notice from Nasdaq does not immediately affect the trading status of Inspired’s common stock. However, it sets a critical timeline for the company to rectify the situation.
Inspired Entertainment has been allotted 60 days, concluding on June 3, 2024, to either file the overdue 2023 Form 10-K or present Nasdaq with a viable plan to regain compliance with the listing regulations.
Potential Paths to Compliance
Should Inspired opt to propose a compliance plan and Nasdaq deems it satisfactory, the company could be granted an extension of up to 180 days from the original filing deadline, extending the final date for compliance to September 11, 2024.
This extension provides a window for Inspired to address the filing delay and maintain its listing on Nasdaq.
In response to the notification, Inspired Entertainment has expressed its intention to submit the 2023 Form 10-K by April 15, 2024, well ahead of the initial 60-day deadline.
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