DZS Inc.
10/16/2024 | Press release | Distributed by Public on 10/16/2024 04:02
Failure to Satisfy Listing Rule Form 8 K
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on August 8, 2024, The Nasdaq Stock Market LLC ("Nasdaq") suspended trading in the common stock of DZS Inc. (the "Company") as a result of the Company's failure to regain compliance with its periodic filing obligations under Nasdaq Listing Rule 5250(c)(1) by the August 5, 2024 deadline. On October 15, 2024, Nasdaq filed a Form 25 Notification of Delisting with the Securities and Exchange Commission (the "SEC"), notifying the SEC of Nasdaq's determination to remove the Company's common stock from listing on Nasdaq. The delisting will become effective October 25, 2024, ten days after the Form 25 was filed.
The Company's common stock has been traded on the OTC Market under the symbol "DZSI" since August 8, 2024, and the Company expects that the final delisting action by Nasdaq will have no practical effect on the trading of its securities on the OTC Market.