Urban One, Inc. Receives NASDAQ Notification Of Non-Compliance With Listing Rule 5250(c)(1)

Author: Happy Mohamed | May 24, 2023 04:23pm

Today, Urban One, Inc. (NASDAQ:UONEK, UONE))))) (the "Company"), reported that it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") on May 19, 2023 (the "Second  Nasdaq Letter") notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) (the "Rule") as a result of not having timely filed (i) its Annual Report on Form 10-K for the period ended December 31, 2022 (the "2022 Form 10-K") and (ii) its Quarterly Report on Form 10-Q for the period ended March 31, 2023 (the "Q1 2023 Form 10-Q" and, together with the 2022 Form 10-K, the "Delinquent Reports"), with the Securities and Exchange Commission ("SEC").

This notification has no immediate effect on the listing of the Company's common stock on the NASDAQ. However, if the Company fails to timely regain compliance with the Rule, the Company's common stock will be subject to delisting from NASDAQ.

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