NASDAQ Listing Qualifications Dept. Warns Urban One
| RADIO ONLINE | Wednesday, May 24, 2023 |
|
 Urban One |
Urban One has received a letter from Nasdaq's Listing Qualifications Department, notifying the company that it was not in compliance with the requirements of Nasdaq Listing Rule. The reason was the company's failure to file its Annual Report on Form 10-K for the period ended December 31, 2022, and its Quarterly Report on Form 10-Q for the period ended March 31, 2023, with the SEC.
Urban One said in an earlier release that it is "working diligently and expects to file its 2022 Form 10-K within the 60-day notification period, which ends on June 2."
The notification does not have an immediate effect on the listing of the company's common stock on NASDAQ. However, if the company fails to regain compliance, its common stock will be subject to delisting from NASDAQ. Overall, Urban One's current stock performance is relatively stable.
