SAN
FRANCISCO, April 25, 2024 /PRNewswire/
-- Autodesk, Inc. (NASDAQ: ADSK) (the "Company") today
announced that it received an expected deficiency notification
letter from the Listing Qualifications Staff of The Nasdaq Stock
Market LLC ("Nasdaq") on April 19,
2024 (the "Notice"). The Notice indicated that the Company
was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the
"Listing Rule") as a result of its failure to timely file its
Annual Report on Form 10-K for the year ended January 31, 2024 (the
"Form 10-K"), as described more fully in the Company's Form 12b-25
Notification of Late Filing (the "Form 12b-25") filed with the
Securities and Exchange Commission (the "SEC") on April 1, 2024 and
the press release issued by the Company on April 16, 2024 (the
"Prior Press Release"). The Listing Rule requires Nasdaq-listed
companies to timely file all required periodic reports with the
SEC.
The Notice has no immediate effect on the listing or trading of
the Company's common stock on the Nasdaq Global Select Market.
In accordance with Nasdaq's listing rules, the Company has 60
calendar days after the Notice to submit a plan to regain
compliance with the Listing Rule. Pursuant to the Notice, following
receipt of such plan, Nasdaq may grant an extension of up to 180
calendar days from the Form 10-K's due date, or until October 14, 2024, for the Company to regain
compliance. The Company intends to take the necessary steps to
regain compliance with Nasdaq's listing rules as soon as
practicable.
As previously disclosed, the filing of the Form 10-K was delayed
due to the matters described in the Form 12b-25 and the Prior Press
Release. As of today, the internal investigation described in the
Form 12b-25 and the Prior Press Release is ongoing and all parties
continue to work diligently to complete the investigation and to
file the Form 10-K as soon as practicable. The subject of the
internal investigation remains the same as previously disclosed,
and the Company currently does not believe that any of the matters
under investigation affect any previously issued financial
statements or the information in the Company's earnings release on
February 29, 2024.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks and uncertainties, including statements above
regarding the timing and expectations regarding the Company's audit
committee's internal investigation and the filing of the Form 10-K,
statements relating to the Company's plan to regain compliance with
Nasdaq's rules, as well as all statements that are not historical
facts. There are a significant number of factors that could cause
actual results to differ materially from statements made in this
report, including: the discovery of additional information relevant
to the internal investigation; the conclusions of the Company's
audit committee (and the timing of the conclusions) concerning
matters relating to the investigation; the timing of the review by,
and the conclusions of, the Company's independent registered public
accounting firm regarding the investigation and the Company's
financial statements; the risk that the completion and filing of
the Form 10-K will take longer than expected; uncertainties about
the timing of the Company's submission of a compliance plan;
Nasdaq's acceptance of any such plan; the duration of any extension
that may be granted by Nasdaq; and the risk that the Company will
be unable to meet Nasdaq's continued listing requirements.
Further information on potential factors that could affect the
financial results of Autodesk are included in Autodesk's Form 10-K
for the fiscal year ended January 31,
2023, and subsequent Forms 10-Q, which are on file with the
Securities and Exchange Commission. Autodesk disclaims any
obligation to update the forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made.
About Autodesk
Autodesk is changing how the world is designed and made. Our
technology spans architecture, engineering, construction, product
design, manufacturing, media and entertainment, empowering
innovators everywhere to solve challenges big and small. From
greener buildings to smarter products to more mesmerizing
blockbusters, Autodesk software helps our customers to design and
make a better world for all. For more information, visit
autodesk.com or follow @autodesk. #MakeAnything
Autodesk uses its investors.autodesk.com website as a means of
disclosing material non-public information, announcing upcoming
investor conferences and for complying with its disclosure
obligations under Regulation FD. Accordingly, you should monitor
our investor relations website in addition to following our press
releases, SEC filings and public conference calls and webcasts.
Autodesk, AutoCAD, AutoCAD LT, BIM 360 and Fusion 360 are
registered trademarks of Autodesk, Inc., and/or its subsidiaries
and/or affiliates in the USA
and/or other countries. All other brand names, product names or
trademarks belong to their respective holders. Autodesk reserves
the right to alter product and service offerings, and
specifications and pricing at any time without notice, and is not
responsible for typographical or graphical errors that may appear
in this document.
© 2024 Autodesk, Inc. All rights reserved.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/autodesk-receives-expected-notification-of-deficiency-from-nasdaq-related-to-delayed-filing-of-annual-report-on-form-10-k-302127996.html
SOURCE Autodesk, Inc.