ConnectM (CNTM) Technology Solutions announced that on December 6, 2024, it received a notice from the staff of the Listing Qualifications Department of Nasdaq stating that because the company had not filed its Quarterly Report on Form 10-Q for the period ended September 30, 2024, it no longer complies with Nasdaq Listing Rule 5250(c)(1) for continued listing, which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. This notification has no immediate effect on the listing of the company’s shares on Nasdaq. However, if the company fails to timely regain compliance with the Nasdaq Listing Rule, the company’s securities will be subject to delisting from Nasdaq. ConnectM now has until February 4, 2025 to submit a plan to regain compliance. If Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar days from the Filing’s due date, or until May 19, 2025, to regain compliance. If Nasdaq does not accept the plan, ConnectM will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
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