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Super Micro Computer Approaches Filing Deadline Tuesday to Avoid Delisting
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Key Points
- Super Micro Computer will face its latest filing deadline on Tuesday to avoid deletion from the Nasdaq Stock Exchange.
- The server maker faces months of uncertainty after postponing its annual report amid allegations of accounting issues last August.
- Earlier this month, the preliminary results reported by SuperMicro were lower than previous forecasts and said it was expected to be reached by the February 25 application deadline.
Supercomputer (SMCI) Facing the next hurdle on Tuesday, server manufacturers face Nasdaq’s application deadline to avoid standing out from the exchange.
The company has had difficulties since the past six months It’s accused Short seller manipulated by accounting. In August, Supermicro Say it will apply Its annual report later than expected, followed by Resign As an auditor for the company October.
Earlier this monthThe company said it expects it to file a delayed report, one of which is fiscal year 2024, while the February 25 deadline is the first two quarterly reports for fiscal year 2024. Supermicro previously provided preliminary first and second quarter results, with the second quarter figures recently lower than its previous forecast.
Shares have fallen 40% since last year, but have almost doubled this month
So far this month, the company’s share price has almost doubled Optimistic emotions will be satisfied Its submission deadline.
Supermicro received Extension of application deadline In December of an Independent Special Committee, in December Said it has been found There is no evidence of improper accounting. However, the company said it would replace its chief financial officer at the time, which is still one of several administrative positions that must be filled.
SuperMicro shares rose 4% Tuesday morning, down about 40% over the past 12 months at the end of Monday.
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