Press release
Mitek Announces Extension of Nasdaq Stay and Hearing Date
Nasdaq panel maintains status quo of the Company’s securities pending hearing SAN DIEGO--(BUSINESS WIRE)-- Mitek Systems, Inc. (NASDAQ: MITK,
About this update from Mitek Systems, Inc.
[{"type":"text","content":"\nNasdaq panel maintains status quo of the Company’s securities pending hearing\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nMitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com, \"Mitek” or the “Company”), a global leader in digital identity and fraud prevention, today announced that on January 17, 2024, the Company was notified by the Nasdaq Hearings Panel (the “Panel”) that the Panel has granted the Company’s request to extend the automatic stay of suspension of the Company's common stock from The Nasdaq Stock Market LLC (“Nasdaq”) pending the Company’s hearing before the Panel scheduled for March 19, 2024, and a final determination regarding the Company’s listing status.\n\n\nAs previously reported, the Company is subject to a Mandatory Panel Monitor for a period of one year, or until November 6, 2024, which requires the Nasdaq Listing Qualifications Department to promptly issue a delisting determination in the event that the Company fails to maintain compliance with Nasdaq Listing Rule 5250(c). As previously disclosed on December 18, 2023, the Company intended to appeal a determination by the Nasdaq Listing Qualifications Department to delist the Company’s securities due to the Company’s failure to timely file its Annual Report on Form 10-K for the period ended September 30, 2023 (the \"Form 10-K\") with the Securities and Exchange Commission. On December 26, 2023 the Company timely requested a hearing before the Panel and requested that the automatic stay of suspension be extended through the completion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing.\n\n\nWhile the Company intends to file its Form 10-K as quickly as possible to regain compliance, it currently anticipates that, as a result of the Company's previously delayed filings, it will be delayed in filing its Quarterly Report on Form 10-Q for the period ended December 31, 2023 which is due on February 9, 2024 and which cannot be completed and filed until the Form 10-K has been filed.\n\n\nAbout Mitek Systems, Inc.\n\n\nMitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Mitek’s advanced identity verification technologies and global platform make digital access faster and more secure than ever, providing companies with new levels of control, de...