Urban One Get Nasdaq Determination, Files Quarterly Reports

RADIO ONLINE | Monday, November 20, 2023 | 4:19pm CT

Urban One

Urban One has received an Additional Staff Delisting Determination from the Listing Qualifications Department of the Nasdaq Stock Market, noting that the company is now delinquent in filing its Form 10-Q for the period ended September 30, 2023 and that the additional delinquency may serve as a separate basis for the delisting of the company's securities from Nasdaq. The determination served as formal notification that the Nasdaq Hearings Panel will consider the additional delinquency in rendering a determination regarding the Company's continued listing.

Urban One requested a hearing before the panel on October 5 and, as it's scheduled for November 30. 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 SEC on November 20. Urban One expects to file the Q3 2023 Form 10-Q on or about December 31, and will present its plan to evidence full compliance with the Nasdaq listing criteria at the Hearing.

As previously reported, on October 17, 2023, the Panel granted the Urban One's request to extend the stay of any suspension of trading pending the ultimate outcome of the Hearing.