PFSweb Provides Update on Nasdaq Listing Status
28 Febbraio 2022 - 10:05PM
PFSweb (NASDAQ: PFSW) (“PFS” or the “Company"), a premier eCommerce
order fulfillment provider, today provided an update on its request
for a hearing before the Nasdaq Hearings Panel (the “Panel”) and an
extended stay of the delisting determination issued by the Nasdaq
Stock Market on February 8, 2022 as a result of the delayed filing
of the Company’s Form 10-Q for the period ended September 30, 2021.
On February 15, 2022, PFS was notified that the
hearing has been scheduled for March 17, 2022, and on February 24,
2022, PFS submitted various written information requested by the
Panel in advance of the hearing. On February 28, 2022, PFS received
notice from the Panel that it has granted an extended stay of the
delisting determination until the hearing on March 17, 2022. At the
hearing, the Company will present its plan to regain compliance
with Nasdaq Listing Rule 5250(c)(1), and request the continued
listing of its common stock on the Nasdaq Capital Market pending
such compliance.
As previously disclosed, the delay in the filing
of the Company’s Q3 2021 financials is a result of the complex tax
implications and labor-intensive closing process associated with
the sale of the LiveArea business unit on August 25, 2021, and the
required financial reporting and accounting segmentation of
previously commingled business entities. The delay is not related
to any historical issues with PFSweb’s accounting practices or the
underlying financial performance of the ongoing PFS business.
About PFSPFS, the business unit
of PFSweb, Inc. (NASDAQ: PFSW) is a premier eCommerce order
fulfillment provider. We facilitate each operational step of an
eCommerce order in support of DTC and B2B retail brands and
specialize in health & beauty, fashion & apparel, jewelry,
and consumer packaged goods. Our scalable solutions support
customized pick/pack/ship services that deliver on brand ethos with
each order. A proven order management platform, as well as
high-touch customer care, reinforce our operation. With 20+ years
as an industry leader, PFS is the BPO of choice for brand-centric
companies and household brand names, such as L’Oréal USA, Champion,
Pandora, Shiseido Americas, Kendra Scott, the United States Mint,
and many more. The company is headquartered in Allen, TX with
additional locations around the globe. For more information, visit
www.pfscommerce.com or ir.pfsweb.com for investor information.
For media: Longacre Square
PartnersDan Zacchei/Joe Germani/Ashley Areopagita
PFSweb@longacresquare.com
Investor Relations:Cody Slach and Jackie
KeshnerGateway Investor
Relations1-949-574-3860PFSW@gatewayir.com
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