CORRECTING and REPLACING Mitek Announces Receipt of Notice from Nasdaq and Provides Update on Nasdaq Listing
16 Agosto 2023 - 4:56PM
Business Wire
Fifth paragraph should read: Given that the Company addressed
its plan for filing the Q3 Form 10-Q at the hearing, along with its
plan for becoming fully current in filing, the Company does not
need to address this issue further with the Panel (instead of Given
that the Company addressed its plan for filing the Q3 Form 10-Q at
the hearing, along with its plan for becoming fully current in
filing, the Company does need to address this issue further with
the Panel).
The updated release reads:
MITEK ANNOUNCES RECEIPT OF NOTICE FROM
NASDAQ AND PROVIDES UPDATE ON NASDAQ LISTING
Mitek Systems, Inc. (Nasdaq: MITK, www.miteksystems.com, “Mitek”
or the “Company”), a global leader in digital identity and digital
fraud prevention, today reported that on August 14, 2023, it
received a notice (the “Notice”) from the Listing Qualifications
Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the
Company that it was not in compliance with Nasdaq’s continued
listing requirements under Nasdaq Listing Rule 5250(c)(1) (the
“Rule”) as a result of its failure to file its Quarterly Report on
Form 10-Q for the quarter ended June 30, 2023 (the “Q3 Form 10-Q”)
in a timely manner and that such matter serves as an additional
basis for delisting the Company’s securities from Nasdaq. The Rule
requires listed companies to timely file all required periodic
reports with the Securities and Exchange Commission (the “SEC”).
The Company previously reported in its Form 12b-25 filed with the
SEC on (i) August 10, 2023 that the Company was unable to file its
Q3 Form 10-Q, (ii) May 10, 2023 that the Company was unable to file
its Quarterly Report on Form 10-Q for the quarterly period ended
March 31, 2023 (the “Q2 Form 10-Q”) and (iii) February 10, 2023
that the Company was unable to file its Quarterly Report on Form
10-Q for the quarterly period ended December 31, 2022 (the “Q1 Form
10-Q”), in each case within the prescribed time period without
unreasonable effort or expense.
On June 20, 2023 the Company timely requested a hearing before
the Nasdaq Hearings Panel (the “Panel”) to appeal a determination
by the Nasdaq Listing Qualifications Department to delist the
Company’s securities due to the Company’s failure to timely file
its Annual Report on Form 10-K for the period ended September 30,
2022 and its Q1 Form 10-Q and Q2 Form 10-Q, with the Securities and
Exchange Commission and requested that the automatic stay of
suspension be extended through the completion of the hearings
process and the expiration of any additional extension period
granted by the Panel following the hearing.
As previously disclosed, on July 5, 2023, the Company received a
notice from the Panel notifying the Company that the Panel granted
the Company’s request to extend the automatic stay of suspension
from Nasdaq pending the Company’s hearing before the Panel
scheduled for August 10, 2023, and a final determination regarding
the Company’s listing status.
On August 10, 2023, the Company presented its plan to regain
compliance with the Rule to the Panel and expects to receive a
decision from the Panel regarding the Company’s request for
continued listing on Nasdaq in late August or September.
Given that the Company addressed its plan for filing the Q3 Form
10-Q at the hearing, along with its plan for becoming fully current
in filing, the Company does not need to address this issue further
with the Panel.
The Company has already filed its Annual Report on Form 10-K for
the period ended September 30, 2022 and intends to file the Q1 Form
10-Q, Q2 Form 10-Q, and Q3 Form 10-Q as promptly as possible in
order to regain compliance with the Rule.
About Mitek Systems, Inc.
Mitek (NASDAQ: MITK) is a global leader in digital identity and
digital fraud prevention, with technology to bridge the physical
and digital worlds. Mitek’s advanced identity verification
technologies and global platform make digital access faster and
more secure than ever, providing companies new levels of control,
deployment ease and operation, while protecting the entire customer
journey. More than 7,800 organizations use Mitek to enable trust
and convenience for mobile check deposit, new account opening and
more. Learn more at www.miteksystems.com.
Follow Mitek on LinkedIn, Twitter and YouTube, and read Mitek’s
latest blog posts here.
Notice Regarding Forward-Looking Statements
Statements contained in this news release relating to the
Company or its management’s intentions, hopes, beliefs,
expectations or predictions of the future, including, but not
limited to, statements relating to the filing of its Form 10-Qs and
the Company’s ability and intent to regain compliance with the
Nasdaq continued listing standards, the Company’s submission of its
views with respect to the failure to timely file the Q3 Form 10-Q
in writing to the Panel for their consideration, constitute forward
looking statements. Such forward-looking statements are subject to
a number of risks and uncertainties, including, but not limited to,
risks related to the Company’s ability to file the Form 10-Qs, the
Company’s ability to regain compliance with the Nasdaq continued
listing standards and that Nasdaq may not grant a further extension
or that any such extension, if granted, would be sufficient enough
time for the Company to come back into compliance with the Listing
Rule.
Additional risks and uncertainties faced by the Company are
contained from time to time in the Company’s filings with the U.S.
Securities and Exchange Commission (SEC), including, but not
limited to, the Company’s Annual Report on Form 10-K for the fiscal
year ended September 30, 2022, as filed with the SEC on July 31,
2023 and its Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K, which you may obtain for free on the SEC’s website at
www.sec.gov. Collectively, these risks and uncertainties could
cause the Company’s actual results to differ materially from those
projected in its forward-looking statements and you are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. The Company disclaims any
intention or obligation to update, amend or clarify these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230816793229/en/
Investor Contact: Todd Kehrli or Jim Byers MKR Investor
Relations, Inc. mitk@mkr-group.com
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