Supermicro Receives Non-Compliance Letter from Nasdaq

Super Micro Computer, Inc. received a notification letter from Nasdaq stating that the company is not in compliance with Nasdaq listing rule 5250(c)(1), which requires timely filing of reports with the U.S. Securities and Exchange Commission.

The September 17, 2024 letter was sent as a result of the company’s delay in filing its Annual Report on Form 10-K for the period ending June 30, 2024. The Form 10-K was due on August 29, 2024. The company filed a Form 12b-25 on August 30, 2024.

The Nasdaq notice has no immediate effect on the listing or trading of the company’s common stock on the Nasdaq Global Select Market. Under the Nasdaq rules, the company has 60 days from the date of the notice either to file the Form 10-K or to submit a plan to Nasdaq to regain compliance with Nasdaq’s listing rules. If a plan is submitted and accepted, the company could be granted up to 180 days from the Form 10-K’s due date to regain compliance. If Nasdaq does not accept the firm’s plan, then the company will have the opportunity to appeal that decision to a Nasdaq hearings panel.