Marrone Bio Innovations announces receipt of NASDAQ listing determination letter and delay in filing first quarter 2015 results - Company to request hearing to seek a further extension to file periodic reports
Davis, California, USA
May 12, 2015
Marrone Bio Innovations, Inc. (the "Company")(NASDAQ:MBII) today announced that on May 6, 2015, as anticipated, the Company was notified by the Listing Qualifications Staff (the "Staff") of The NASDAQ Stock Market LLC ("NASDAQ") that, based upon the Company's continued non-compliance with NASDAQ's filing requirements under NASDAQ Listing Rule 5250(c)(1), the uncertainty of the Company's time frame to file all its required periodic reports and its expectation that it would not file all periodic reports with the SEC by May 13, 2015, the termination of the exception period previously granted by the Staff, the Company's securities were subject to delisting unless the Company timely requests a hearing before the NASDAQ Listing Qualifications Panel (the "Panel"). In addition, the Company announced that it does not expect to file on a timely basis its Quarterly Report on Form 10-Q for the three months ended March 31, 2015, resulting in further noncompliance with NASDAQ Listing Rule 5250(c)(1).
The Company intends to timely request a hearing before the Panel, at which hearing the Company will present its plan to evidence compliance with NASDAQ's filing requirement and request an extension within which to do so. In accordance with the NASDAQ Listing Rules, the Panel has the authority to continue the Company's listing on NASDAQ pursuant to an exception to the filing requirement through as late as November 2, 2015. The Company's common stock will continue to trade on The NASDAQ Global Market under the symbol "MBII" pending the completion of the hearing process and the expiration of any extension period granted by the Panel.
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Website: http://marronebioinnovations.com/ Published: May 12, 2015 |
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