Infinera Corporation Announces Notification of Delinquency with Nasdaq
March 15 2024 - 4:30PM
Infinera (NASDAQ: INFN) announced today that it received an
expected delinquency notification letter from the Listing
Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) on
March 15, 2024 (the "Notice"). The Notice indicated that Infinera
was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the
“Listing Rule”) as a result of its failure to timely file its
Annual Report on Form 10-K for the year ended December 30, 2023
(the “Form 10-K”), as described more fully in Infinera's Form
12b-25 Notification of Late Filing (the “12b-25”) filed with the
Securities and Exchange Commission (the "SEC") on February 29,
2024. The Listing Rule requires listed companies to timely file all
required periodic financial reports with the SEC.
Nasdaq has informed Infinera that it must submit a plan of
compliance (the “Plan”) by May 14, 2024 addressing how it intends
to regain compliance with Nasdaq’s listing rules. As previously
disclosed, Infinera was delayed in its year-end closing process due
to the matters described in the Company’s 12b-25. Infinera will
continue to work diligently to complete and file the Form 10-K as
soon as practicable and will work diligently to submit the Plan
promptly and take the necessary steps to regain compliance as soon
as practicable.
Contacts:
Media:Anna VueTel. +1 (916) 595-8157avue@infinera.com
Investors:Amitabh Passi, Head of Investor RelationsTel. +1 (669)
295-1489apassi@infinera.com
About InfineraInfinera is a global supplier of
innovative open optical networking solutions and advanced optical
semiconductors that enable carriers, cloud operators, governments,
and enterprises to scale network bandwidth, accelerate service
innovation, and automate network operations. Infinera solutions
deliver industry-leading economics and performance in long-haul,
submarine, data center interconnect, and metro transport
applications. To learn more about Infinera, visit www.infinera.com,
follow us on X and LinkedIn, and subscribe for updates.
Infinera and the Infinera logo are registered trademarks of
Infinera Corporation.
This press release contains forward-looking statements.
Forward-looking statements include statements regarding our
expectations, beliefs, intentions, or strategies and can be
identified by words such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “intend,” “may,” “should,” “will,” and
“would” or similar words. Such forward-looking statements in this
press release include, but are not limited to, Infinera’s
expectations about the timing of completion and filing of the Form
10-K, statements related to Infinera’s plan of compliance to regain
compliance with respect to the Listing Rule, and timing and actions
taken to regain compliance with Nasdaq. Actual results may vary
materially from these expectations as a result of various risks and
uncertainties. Information about these risks and uncertainties, and
other risks and uncertainties that affect Infinera’s business, is
contained in the risk factors section and other sections of
Infinera’s Quarterly Report on Form 10-Q for the quarter ended
September 30, 2023, as filed with the SEC on February 29, 2024, as
well as any subsequent reports filed with or furnished to the SEC.
These reports are available on Infinera’s website at
www.infinera.com and the SEC’s website at www.sec.gov. Infinera
assumes no obligation to, and does not currently intend to, update
any forward-looking statements contained herein.
Infinera (NASDAQ:INFN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Infinera (NASDAQ:INFN)
Historical Stock Chart
From Apr 2023 to Apr 2024