Primis Financial Corp. announced on October 9, 2024, that it received a notice from Nasdaq indicating potential delisting of its common stock. This notice was due to noncompliance with Nasdaq Listing Rule 5250(c)(1), as the company had not filed its Annual Report on Form 10-K for the year ended December 31, 2023, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, and June 30, 2024, by the expiration of a previously granted 180-day exception period.
The company has appealed Nasdaq's determination and requested a hearing before a Nasdaq Hearings Panel, which automatically stayed any suspension of trading through October 23, 2024. Primis also requested an extension of this temporary stay until a final Panel decision is issued.
Primis Financial Corp. has filed its restated Annual Report on Form 10-K for the year ended December 31, 2022, and anticipates filing its 2023 Annual Report on Form 10-K by October 11, 2024. The company is working to complete its delayed Form 10-Q filings by October 31, 2024, at which point it expects to regain compliance with Nasdaq listing standards.
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