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Urban One, Inc. Receives Additional Nasdaq Staff Determination; Today Files Quarterly Reports for the Periods ended March 31, 2023 and June 30, 2023
SILVER SPRING, Md., Nov. 20, 2023 /PRNewswire/ -- Today, Urban One, Inc. (the "Company") reported that it received an Additional Staff Delisting Determination
About this update from Urban One, Inc.
[{"type":"text","content":"SILVER SPRING, Md., Nov. 20, 2023 /PRNewswire/ -- Today, Urban One, Inc. (the \"Company\") reported that it received an Additional Staff Delisting Determination (the \"Additional Staff Determination\") from the Listing Qualifications Department of The Nasdaq Stock Market LLC (\"Nasdaq\"), noting that the Company is now delinquent in filing its Form 10-Q for the period ended September 30, 2023 (the \"Q3 2023 Form 10-Q\") and that the additional delinquency may serve as a separate basis for the delisting of the Company's securities from Nasdaq. The Additional Staff Determination serves as formal notification that the Nasdaq Hearings Panel (the \"Panel\") will consider the additional delinquency in rendering a determination regarding the Company's continued listing.\n\n \n \n \n \n \n \n\n \nThe Company requested a hearing before the Panel on October 5, 2023, and, as previously announced on October 17, 2023, the hearing (the \"Hearing\") is scheduled for November 30, 2023. As a part of its compliance plan, the Company filed its delinquent reports for the quarterly periods ended March 31, 2023 and June 30, 2023 with the Securities and Exchange Commission on November 20, 2023. The Company anticipates filing the Q3 2023 Form 10-Q on or about December 31, 2023, and will present its plan to evidence full compliance with the Nasdaq listing criteria at the Hearing.\nAs previously announced, on October 17, 2023, the Panel granted the Company's request to extend the stay of any suspension of trading pending the ultimate outcome of the Hearing.\nCautionary Note Regarding Forward-Looking Statements\nThe Company cautions you certain of the statements in this press release may represent \"forward-looking statements\" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are based on assumptions believed by the Company to be reasonable and speak only as of the date on which such statements are made. Without limiting the generality of the foregoing, words such as \"expect,\" \"believe,\" \"anticipate,\" \"intend,\" \"plan,\" \"project,\" \"will\" or \"estimate,\" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Except as required by law, the Compan...