Direct Digital receives expected delinquency notification from Nasdaq

Direct Digital Holdings reported that the cmpany received an expected delinquency notification letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC on May 21, 2024, which indicated that, as a result of the company’s delay in filing its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024 by the applicable due date, the cmpany was not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires Nasdaq-listed companies to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission. The Notice states that the Company has until June 17, 2024 to submit to Nasdaq a plan to regain compliance with the 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 Form 10-K, or until October 14, 2024, to file the Form 10-K and the Form 10-Q to regain compliance; however, there can be no assurance that these events will occur.