PCB Bancorp announced on May 22, 2025, that it received a notice from the Nasdaq Stock Market for not timely filing its Form 10-Q for the quarter ended March 31, 2025. This notice indicates non-compliance with Nasdaq Listing Rule 5250(c)(1) regarding periodic filing requirements.
The delay in filing is attributed to the need for additional time to determine the value of a Securities Purchase Option Agreement related to the company's Series C Preferred Stock. This valuation is a complex accounting matter.
Nasdaq has provided the company 60 calendar days, until July 20, 2025, to submit a plan to regain compliance. While there is no immediate impact on the listing or trading of the company's shares, continued delays could affect its market standing.
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