Benzinga | Sep 2, 2021 05:10PM EDT

Cinedigm Receives Nasdaq Notice Of Deficiency

Cinedigm (NASDAQ:CIDM) announced today that on August 27, 2021, it received a notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") indicating that it was no longer in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") due to the failure to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 (the "Form 10-Q") with the Securities and Exchange Commission. The Notice states that the Company is required to submit a plan to regain compliance with Rule 5250(c)(1) within 60 calendar days from the date of the Notice. If the plan is accepted by Nasdaq, then Nasdaq can grant the Company up to 180 calendar days from the due date of the Form 10-Q to regain compliance.

The Notice does not result in the immediate delisting of the Common Stock from the Nasdaq Global Market. Cinedigm intends to file the Form 10-Q as soon as possible and within the next few days, which filing would satisfy the Rule.