Supermicro Subject to Delisting From Nasdaq

Super Micro Computer, Inc. has received a letter from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the company that since it remains delinquent in filing its annual report on form 10-K for the fiscal year ended June 30, 2017 and its quarterly reports on form 10-Q for the quarterly periods ended September 30, 2017 and December 31, 2017, the staff has determined that the company is non-compliant with Nasdaq Listing Rule 5250(c)(1).

Previously the staff granted the company an extension until March 13, 2018 to file all delinquent periodic reports. As a result of the foregoing, the company’s common stock is subject to suspension in trading on March 23, 2018 and delisting from Nasdaq unless the company requests a hearing before a hearings panel by March 21, 2018.

On March 16, 2018, the company submitted a letter to Nasdaq requesting a hearing before a hearings panel at which it intends to present its plan to regain and thereafter maintain compliance with all applicable Nasdaq listing requirements. The hearing request automatically stays the delisting process for a period of 15 calendar days from the date of the deadline to request a hearing. The gearings panel has the authority to grant the company additional time of up to 360 days from the original due date of the company’s first late filing to regain compliance before further action would be taken to delist the company’s common stock.

In connection with its request for a hearing, the company has also requested a stay of the suspension of trading and delisting of its common stock, pending the decision of the hearings panel that will notify the company by April 5, 2018 of its decision to allow the company to continue to trade on Nasdaq pending the hearing and a decision by the hearings panel.

There can be no assurance that the hearings panel will grant the company’s request for continued listing or stay the delisting of its common stock.

Read also:
Supermicro Announces Filing of Revised Compliance Plan With Nasdaq
Granting company second 180-day exception period
2018.03.02 | Press Release
Supermicro Received Extension From Nasdaq Until March 2018
To regain compliance with continued listing requirements
2017.12.14 | Press Release
Supermicro Submitted Revised Compliance Plan
With Nasdaq
2017.12.01 | Press Release
Supermicro Not in Compliance With Nasdaq
Requiring company to submit update to plan by November 30, 2017
2017.11.21 | Press Release
Supermicro Filed Compliance Plan With Nasdaq
For extension of time to regain compliance
2017.11.16 | Press Release