Business
Addus HomeCare Provides Nasdaq Compliance Update
FRISCO, Texas, May 15, 2020 /PRNewswire/ -- Addus HomeCare Corporation (Nasdaq: ADUS), a provider of home care services, today announced that on May 13, 2020,
About this update from Addus Homecare Corporation
[{"type":"text","content":"FRISCO, Texas, May 15, 2020 /PRNewswire/ -- Addus HomeCare Corporation (Nasdaq: ADUS), a provider of home care services, today announced that on May 13, 2020, it submitted a plan of compliance (the \"Compliance Plan\") to The Nasdaq Stock Market LLC (\"Nasdaq\") to support its request for an extension of time to regain compliance with the Nasdaq continued listing requirements. The Compliance Plan is in response to a previously disclosed letter received from Nasdaq on March 20, 2020, in connection with Addus HomeCare's previously disclosed delay in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (the \"Form 10-K\"). The Compliance Plan included a statement that Addus HomeCare currently anticipates that it will file the Form 10-K, together with its Form 10-Q for the three months ended March 31, 2020, (the \"Form 10-Q\") on or about August 10, 2020. \nAddus HomeCare also received further correspondence, as expected, from Nasdaq on May 14, 2020, notifying Addus HomeCare that it is not currently in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission, as a result of not filing the Form 10-Q and of the ongoing delay in filing the Form 10-K. Neither Nasdaq letter has a present effect on the listing or trading of Addus HomeCare common stock on the Nasdaq Global Select Market. According to the most recently received Nasdaq letter, the Compliance Plan is currently under review. Pursuant to Nasdaq rules, Addus HomeCare's securities will remain listed on the Nasdaq Global Select Market pending Nasdaq's review of the Compliance Plan. The Compliance Plan contemplates a grace period until September 14, 2020, to regain compliance with the Nasdaq continued listing requirements. Addus HomeCare anticipates regaining compliance prior to this date.\nForward-Looking StatementsCertain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as \"anticipate,\" \"intend,\" \"will,\" \"continue,\" \"expect,\" and similar expressions. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential e...