Edgio, Inc. Receives Expected Notice from NASDAQ
21 Maggio 2024 - 10:30PM
Business Wire
Edgio, Inc. (Nasdaq: EGIO) (the “Company”), today announced that
it received an expected notice (the “Notice”) on May 16, 2024 from
The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is
not in compliance with the requirements for continued listing under
Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) because the
Company has not yet filed its Quarterly Report on Form 10-Q for the
year ended March 31, 2024 (the “Quarterly Report”) with the
Securities and Exchange Commission (the “SEC”). The Notice has no
immediate effect on the listing or trading of the Company’s common
stock on the Nasdaq Capital Market.
The Company previously reported in its Notification of Late
Filing on Form 12b-25, filed with the SEC on May 13, 2024, that the
Company was unable to file its 2024 Form 10-Q for the quarter
ending March 31, 2024 within the prescribed time period due to the
Company’s previous independent registered public accounting firm’s
decision to resign as independent registered public accounting firm
of the Company, effective December 18, 2023. The Audit Committee of
the Board of Directors of the Company accepted the resignation and
immediately engaged in a thorough search for a new independent
registered public accounting firm.
Due to the engagement of a new independent registered public
accounting firm in the first quarter of 2024, the Company requires
additional time to complete the procedures necessary to file its
annual report on Form 10-K (“Annual Report”) and its Quarterly
Report, and accordingly, the Form 10-Q for the period ended March
31, 2024 is delayed.
The Notice states that the Company must update its previously
submitted compliance action plan to regain compliance with the
Listing Rule. If Nasdaq accepts the Company’s plan to regain
compliance, then Nasdaq may grant the Company up to 180 calendar
days from the prescribed due date of the Annual Report, or until
September 30, 2024, to file the Annual Report and Quarterly Report
to regain compliance.
The Company is working diligently to complete and file the
Quarterly Report as soon as practicable. However, given the time
and focus dedicated to the Company’s completion of its Annual
Report, the Company is necessarily delayed in its reporting and
review process for the quarter ended March 31, 2024. The Company
plans to file its Annual Report and Quarterly Report as promptly as
possible to regain compliance with the Listing Rule.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. These statements include, among
others, statements regarding the Company’s current expectations and
intentions with respect to the filing of its Annual Report. Our
expectations and beliefs regarding these matters may not
materialize. It is very difficult to predict the effect of known
factors, and the Company cannot anticipate all factors that could
affect actual results that may be important to an investor. All
forward-looking information should be evaluated in the context of
these risks, uncertainties, and other factors, including those
factors disclosed in our SEC filings, including our most recent
reports on Form 10-K and 10-Q, particularly under the heading “Risk
Factors.” Copies of these filings are available online on our
investor relations website at investors.edgio.com and on the SEC
website at www.SEC.gov. All information provided in this release
and in the attachments is as of May 21, 2024, and we undertake no
duty to update this information in light of new information or
future events, unless required by law.
About Edgio
Edgio (NASDAQ: EGIO) helps companies deliver online experiences
and content faster, safer, and with more control. Our
developer-friendly, globally scaled edge network, combined with our
fully integrated application and media solutions, provide a single
platform for the delivery of high-performing, secure web properties
and streaming content. Through this fully integrated platform and
end-to-end edge services, companies can deliver content quicker and
more securely, thus boosting overall revenue and business value. To
learn more, visit edg.io and follow us on Twitter, LinkedIn and
Facebook.
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version on businesswire.com: https://www.businesswire.com/news/home/20240521473769/en/
Investor relations: Sameet Sinha 602-850-4973 ir@edg.io
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