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Direct Digital Holdings Announces Receipt of Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
HOUSTON, April 23, 2024 /PRNewswire/ -- Today, Direct Digital Holdings, Inc. (the "Company") reported that as a result of requiring additional time to
About this update from Direct Digital Holdings, Inc.
[{"type":"text","content":"HOUSTON, April 23, 2024 /PRNewswire/ -- Today, Direct Digital Holdings, Inc. (the \"Company\") reported that as a result of requiring additional time to complete the audit of its financial statements, on April 17, 2024 it received a notice (the \"Notice\") from the Listing Qualifications Department of The Nasdaq Stock Market LLC (\"Nasdaq\") notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) (the \"Rule\") as a result of not having timely filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the \"Annual Report\") with the Securities and Exchange Commission (the \"SEC\").\nPursuant to the Nasdaq Listing Rules and the Notice, the Company has been afforded 60 calendar days, or until June 16, 2024, to submit a plan to regain compliance. If Nasdaq accepts the compliance plan, the Nasdaq staff may grant the Company an exception of up to 180 calendar days from the filing's due date, or until October 14, 2024, to regain compliance.\nNeither the Notice nor the Company's non-compliance with the Rule has an immediate effect on the listing or trading of the Company's securities on Nasdaq, which will continue to trade on The Nasdaq Capital Market under the symbol \"DRCT.\" The Company is actively working to complete the audit and file the Annual Report to regain compliance with the Rule.\nAbout Direct Digital Holdings\nDirect Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses, and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings' sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The Company's subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings' sell- and buy-side solutions manage on average over 125,000 clients monthly, generating over 300 billion impressions per month across display, CTV, in-app and other media channels.\nCautionary Note Regarding Forward-Looking Statements\nThis press release may contain forward-looking stat...