Primis Financial receives noncompliance notification from Nasdaq

Primis Financial (FRST) announced that, as expected, it received a notice on April 3 from Nasdaq indicating that the company is not in compliance with Nasdaq Listing Rule 5250, which requires listed companies to timely file all periodic reports with the SEC, as it has failed to timely file its Form 10-K for the period ending December 31, 2024, which the company previously disclosed on Form 12b-25, as filed with the SEC on April 1, as amended. As previously disclosed, the company is subjected to a one-year “Panel Monitor” as defined by Nasdaq Listing Rule 5815, and, as a result, the company must request an appeal of this determination to a Hearings Panel by April 10, 2025, or the company’s securities will be scheduled for delisting from Nasdaq and will be suspended at the opening of business on April 14.