Codere Online Luxembourg, S.A. announced on May 22, 2025, that it received a staff determination letter from Nasdaq on May 16, 2025. The letter notified the company of Nasdaq Staff's determination to delist its securities due to the failure to file its Form 20-F for the year ended December 31, 2024, in accordance with Listing Rule 5250(c)(1).
The delay in filing the 2024 Form 20-F is attributed to the extended finalization of the audit following the engagement of a new independent registered public accounting firm on December 31, 2024, and the company's efforts to finalize the 2023 Form 20-F. This marks a recurrence of the compliance issue that previously led to a delisting notice.
Codere Online formally requested a hearing to review the delisting determination and sought a further stay of suspension of trading through the duration of the hearing process. The company stated its belief that it would be able to complete and file the 2024 Form 20-F on or prior to May 30, 2025, to regain compliance.
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