01—Abstract
Summary
Summary of the 8-K filed December 6, 2024. Cited figures are marked; the original filing is the authoritative source.
Super Micro Computer, Inc. disclosed in this Form 8-K, dated December 6, 2024, that it received a letter from the Nasdaq Stock Market granting an exception to Nasdaq Listing Rule 5250(c)(1).
The exception extends the Company's deadline to February 25, 2025 to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, its Quarterly Report on Form 10-Q for the period ended September 30, 2024, and any other required filings. The Company's common stock will remain listed on the Nasdaq Global Select Market during the exception period and will continue to be listed if all required reports are filed by February 25, 2025, provided the Company remains in compliance with Nasdaq's listing rules. If the required reports are not filed by that date, Nasdaq will notify the Company that its common stock will be delisted, and the Company would have the right to appeal to a Nasdaq Hearing Panel.
In the accompanying press release (Exhibit 99.1), the Company states that it currently expects to file all required reports by February 25, 2025. The filing contains no financial results; its significance for investors lies in the delayed periodic reporting and the associated listing risk tied to the February 25, 2025 deadline.
02—Key points
Key Highlights
- Nasdaq granted Super Micro Computer an exception to Listing Rule 5250(c)(1), extending the filing deadline to February 25, 2025.
- The deadline covers the Form 10-K for the fiscal year ended June 30, 2024, the Form 10-Q for the period ended September 30, 2024, and any other required filings.
- Common stock will remain listed on the Nasdaq Global Select Market during the exception period and beyond, if all reports are filed on time and listing rules are met.
- If required reports are not filed by February 25, 2025, Nasdaq will notify the Company of pending delisting, and the Company may appeal to a Nasdaq Hearing Panel.
- The Company stated in its press release that it currently expects to file all required reports by February 25, 2025.
- The disclosure was made under Item 3.01 (Notice of Delisting or Failure to Satisfy a Continued Listing Rule) with a press release attached as Exhibit 99.1.
03—Questions
Frequently Asked Questions
Will Super Micro Computer's stock be delisted from Nasdaq?
Not at this time. Nasdaq has granted an exception through February 25, 2025, and the common stock will remain listed on the Nasdaq Global Select Market during that period. The stock stays listed beyond that date if the Company files all required reports by February 25, 2025 and remains in compliance with Nasdaq's listing rules.
Which reports is the Company required to file by February 25, 2025?
The Company must file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, its Quarterly Report on Form 10-Q for the period ended September 30, 2024, and any other required filings.
What happens if the Company misses the February 25, 2025 deadline?
Nasdaq will notify the Company that its common stock will be delisted. The Company would have the right to appeal that determination to a Nasdaq Hearing Panel.
Does management expect to meet the new deadline?
Yes, according to the press release attached as Exhibit 99.1, the Company currently expects to file all required reports by February 25, 2025. The filing also notes that forward-looking statements are subject to risks and uncertainties, referring investors to the Risk Factors sections of its SEC filings.
Does this filing include the Company's financial results?
No. The filing addresses only the Nasdaq listing exception and the related filing deadlines. It does not report financial results for the periods in question.
04—Continue