Alliance Entertainment Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K

About this update from Alliance Entertainment Holding Corporation

[{"type":"text","content":"PLANTATION, Fla., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Alliance Entertainment Holding Corporation (Nasdaq: AENT) (“Alliance Entertainment”, “Company”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, toys and collectibles, today announced it received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (\"Nasdaq\") on October 4, 2023, it no longer complies with Nasdaq Listing Rule 5250(c)(1) (the \"Rule\") as a result of its failure to file an annual report on Form 10-K for the year ended June 30, 2023, (the “Annual Report”) with the Securities and Exchange Commission (the \"SEC\") by the required due date. This notification has no immediate effect on the listing of the Company's shares on Nasdaq. Under Nasdaq Rules the Company has 60 calendar days from receipt of the Notice to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company’s plan, Nasdaq may grant an exception of up to 180 calendar days from the due date of the 10-K, or until March 27, 2024, to regain compliance. The Company is in the process of preparing the plan to regain compliance and finalizing the financial statements for the year ending June 30, 2023. The Company will submit the plan to regain compliance and file its Annual Report as soon as possible. About Alliance Entertainment Alliance Entertainment (NASDAQ: AENT) is a premier distributor of music, movies, toys, collectibles, and consumer electronics. We offer over 375,000 unique in stock SKU’s, including over 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Complementing our vast media catalog, we also stock a full array of related accessories, toys and collectibles. With more than thirty-five years of distribution experience, Alliance Entertainment serves customers of every size, providing a robust suite of services to resellers and retailers worldwide. Our efficient processing and essential seller tools noticeably reduce the costs associated with administrating multiple vendor relationships, while helping omni-channel retailers expand their product selection and fulfillment goals. For more information, visit www.aent.com. Forward Looking Statements Certain statements included in this Press Release that are not historical facts are forward-looking statements for purp...

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