Veradigm Inc. Announces Receipt of Nasdaq Stay Extension
09 Outubro 2023 - 5:01PM
Business Wire
Veradigm Inc. (NASDAQ: MDRX) announced today that, on October 6,
2023, it received a notice from Nasdaq indicating that the
temporary stay of delisting of the Company’s common stock has been
extended pending a hearing before the Nasdaq Hearings Panel (the
“Panel”) on November 16, 2023, and the issuance of a final Panel
decision.
Previously, the Company disclosed that, on September 20, 2023,
it had received a notice (the “Delisting Notice”) from Nasdaq
indicating that the Company’s common stock would be delisted due to
noncompliance with Nasdaq Listing Rule 5250(c)(1), because the
Company did not file its Annual Report on Form 10-K for the year
ended December 31, 2022 (the “Form 10-K”), Quarterly Report on Form
10-Q for the quarter ended March 31, 2023 (the “Q1 Form 10-Q”) and
Quarterly Report on Form 10-Q for the quarter ended June 30, 2023
(together with the Q1 Form 10-Q, the “Form 10-Qs”) before the
expiration of the 180-day “exception period” that was previously
granted by Nasdaq. Nasdaq Listing Rule 5250(c)(1) requires listed
companies to timely file all periodic reports with the Securities
and Exchange Commission (the “SEC”). On September 27, 2023, the
Company appealed Nasdaq’s determination in the Delisting Notice
pursuant to the procedures set forth in the Listing Rules and
requested a hearing (the “Hearing Request”) before the Panel. The
Hearing Request had temporarily stayed any suspension or delisting
action until October 12, 2023, and requested that the temporary
stay be extended until the Panel issues a final decision on the
matter.
As previously disclosed, the Company has been unable to file the
Form 10-K, and consequently, the Form 10-Qs, because of internal
control failures that primarily stem from accounting processes and
a software tool implemented by the Company in order to comply with
the requirements of FASB’s rule ASC 606. The work effort to
conclude on the accounting and internal control errors has taken
longer than previously expected, primarily resulting from the need
to build a new supplemental revenue system tool and the extensive
manual work to aggregate and map the Company’s historical
transaction data into the new system tool. The Company currently
expects to file the Form 10-K and Forms 10-Q during the fourth
quarter of 2023.
About Veradigm®
Veradigm is a healthcare technology company that drives value
through its unique combination of platforms, data, expertise,
connectivity, and scale. The Veradigm Network features a dynamic
community of solutions and partners providing advanced insights,
technology, and data-driven solutions, all working together to
Transform Health, Insightfully. For more information on Veradigm,
visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook,
Twitter, and YouTube.
© 2023 Veradigm Inc. and/or its affiliates. All Rights
Reserved.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, but are not limited
to, statements regarding the Company’s beliefs and expectations
relating to the filing of the Form 10-K and Form 10-Qs, its hearing
before the Panel and whether the Company’s common stock will remain
listed on Nasdaq. These forward-looking statements are based on the
current beliefs and expectations of the Company’s management with
respect to future events, only speak as of the date that they are
made and are subject to significant risks and uncertainties. Such
statements can be identified by the use of words such as “future,”
“anticipates,” “believes,” “estimates,” “expects,” “intends,”
“plans,” “predicts,” “will,” “would,” “could,” “continue,” “can,”
“may,” “look forward,” “aim,” “hopes,” and similar terms, although
not all forward-looking statements contain such words or
expressions. Actual results could differ significantly from those
set forth in the forward-looking statements.
Important factors that may cause actual results to differ
materially from those in the forward-looking statements include,
but are not limited to, a further material delay in the Company’s
financial reporting, including as a result of unanticipated factors
or factors that the Company currently believes will not cause
further delay, the possibility that the ongoing review may identify
additional errors or control deficiencies in the Company’s
accounting practices, the likelihood that the control deficiencies
identified or that may be identified in the future will result in
additional material weaknesses in the Company’s internal control
over financial reporting, the possibility that the Company is
unable to regain compliance with, or thereafter continue to comply
with, the Listing Rules, or experience violations of additional
Listing Rules, the possibility that the Panel may reach a final
decision to delist the Company’s securities and other factors
contained in the “Risk Factors” section and elsewhere in the
Company’s filings with the SEC from time to time, including, but
not limited to, its Annual Report on Form 10-K and its Quarterly
Reports on Form 10-Q. The Company does not undertake to update any
forward-looking statements to reflect changed assumptions, the
impact of circumstances or events that may arise after the date of
the forward-looking statements, or other changes over time, except
as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231009716074/en/
Investors: Jenny Gelinas
312-506-1237 jenny.gelinas@veradigm.com
Media: Concetta Rasiarmos
312-447-2466 concetta.rasiarmos@veradigm.com
Veradigm (NASDAQ:MDRX)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Veradigm (NASDAQ:MDRX)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024