Edgio, Inc. Receives Expected Notice from NASDAQ
28 March 2023 - 8:25AM
Business Wire
Edgio, Inc. (Nasdaq: EGIO) (the “Company” ), today announced
that it received an expected notice (the “Notice”) on March 23,
2023 from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the
Company is not in compliance with the requirements for continued
listing under Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”)
because the Company has not yet filed its Annual Report on Form
10-K for the year ended December 31, 2022 (the “Annual Report”)
with the Securities and Exchange Commission (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.
The Company previously reported in its Notification of Late
Filing on Form 12b-25, filed with the SEC on March 13, 2023, and in
its Current Report on Form 8-K, filed with the SEC on March 13,
2023, that the Company was unable to file its Annual Report within
the prescribed time period due to an error in accounting for sales
of Edgio’s Open Edge solution which resulted in the Company’s plan
to restate its previously issued financials.
The Notice states that the Company has 60 calendar days from the
date of the Notice, or until May 22, 2023, to submit a plan to
regain compliance with the Listing Rule. If Nasdaq accepts the
Company’s plan to regain compliance, then Nasdaq may grant the
Company up to 180 calendar days from the prescribed due date of the
Annual Report, or until September 12, 2023, to file the Annual
Report to regain compliance.
The Company continues to work diligently to finalize its Annual
Report and plans to file its Annual Report as promptly as possible
to regain compliance with the Listing Rule.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. These statements include, among
others, statements regarding the Company’s current expectations and
intentions with respect to the filing of its Annual Report. Our
expectations and beliefs regarding these matters may not
materialize. It is very difficult to predict the effect of known
factors, and the Company cannot anticipate all factors that could
affect actual results that may be important to an investor. All
forward-looking information should be evaluated in the context of
these risks, uncertainties, and other factors, including those
factors disclosed in our SEC filings, including our most recent
reports on Form 10-K and 10-Q, particularly under the heading “Risk
Factors.” Copies of these filings are available online on our
investor relations website at investors.edgio.com and on the SEC
website at www.SEC.gov. All information provided in this release
and in the attachments is as of March 27, 2023, and we undertake no
duty to update this information in light of new information or
future events, unless required by law.
About Edgio
Edgio (NASDAQ: EGIO) helps companies deliver online experiences
and content faster, safer, and with more control. Our
developer-friendly, globally scaled edge network, combined with our
fully integrated application and media solutions, provide a single
platform for the delivery of high-performing, secure web properties
and streaming content. Through this fully integrated platform and
end-to-end edge services, companies can deliver content quicker and
more securely, thus boosting overall revenue and business value. To
learn more, visit edg.io and follow us on Twitter, LinkedIn and
Facebook.
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version on businesswire.com: https://www.businesswire.com/news/home/20230327005703/en/
Investor relations: Sameet Sinha 602-850-4973
ir@edg.io
Media: Joele Frank, Wilkinson Brimmer Katcher Andi Rose /
Mahmoud Siddig 212-355-4449
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