View, Inc. Receives Notification of Additional Deficiency from Nasdaq Related to Delayed Filing of Annual Report on Form 10-K
March 04 2022 - 4:30PM
View, Inc. (Nasdaq: VIEW) (“View” or the
“Company”), the leader in smart building technologies, today
announced that on March 3, 2022, it received a notice (the
“Notice”) from the Nasdaq Listing Qualifications staff of The
Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company’s
failure to file its Annual Report on Form 10-K for the year ended
December 31, 2021 (the “Form 10-K”), serves as an additional basis
for delisting the Company’s securities from Nasdaq. As previously
announced, the Company received a Staff Delisting Determination
(the “Staff Determination”) on February 15, 2022, notifying the
Company that the Nasdaq Listing Qualifications Department had
initiated a process to delist the Company’s securities from Nasdaq
due to the Company’s failure to file its Quarterly Reports on Form
10-Q for the periods ended June 30 and September 30, 2021 (the
“Quarterly Reports”). As a result of the Company’s failure to file
the Form 10-K and the Quarterly Reports, the Company is not in
compliance with Nasdaq Listing Rule 5250(c)(1), which requires
timely filing of all required periodic financial reports.
As previously announced, on February 22, 2022,
the Company appealed the Staff Determination by requesting a
hearing before a Nasdaq Hearings Panel to present its plan to
regain compliance with the applicable listing requirements. Under
the Nasdaq Listing Rules, such request automatically stayed the
delisting process for a period of 15 days from the date of the
request. In connection with its request for a hearing, the Company
also requested that the Staff Determination be further stayed
pending the resolution of the Company’s appeal. The Notice also
provides that, pursuant to Nasdaq Listing Rule 5810(d), the Company
should present its views with respect to the failure to file the
Form 10-K at such hearing. As previously disclosed on
January 4, 2022, the Company expects to be in a position in
the first quarter of 2022 to file its delinquent Quarterly Reports
as well as its Annual Report on Form 10-K for the year
ended December 31, 2021. The Company is currently conducting
its review of and procedures with respect to these reports and
associated financial statements. Although the Company is working
diligently to file these periodic reports as soon as possible,
there can be no assurance that such reports will be filed before
any hearing before the Nasdaq Hearings Panel, or that the Nasdaq
Hearings Panel will grant the Company’s request for a stay pending
the hearing. If the Company’s appeal is denied or the Company
fails to timely regain compliance with Nasdaq’s continued listing
standards, the common stock of the Company will be subject to
delisting on The Nasdaq Global Market.
About View
View is the leader in smart building technologies that transform
buildings to improve human health and experience, reduce energy
consumption and carbon emissions, and generate additional revenue
for building owners. View Smart Windows use artificial intelligence
to automatically adjust in response to the sun, increasing access
to natural light and unobstructed views while eliminating the need
for blinds and minimizing heat and glare. Every View installation
includes a cloud-connected smart building platform that can easily
be extended to reimagine the occupant experience. View is installed
and designed into over 90 million square feet of buildings
including offices, hospitals, airports, educational facilities,
hotels, and multi-family residences. For more information, please
visit: www.view.com.
Forward-Looking Statements
Certain statements contained in this press release and certain
materials View files with the U.S. Securities and Exchange
Commission (the “SEC”), as well as information included in oral
statements or other written statements made or to be made by View,
other than statements of historical fact, are forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These forward-looking statements
are based on current expectations, estimates, assumptions,
projections, and management’s beliefs, that are subject to change.
These statements are not guarantees of future performance and are
subject to certain risks, uncertainties and other factors, many of
which are beyond View’s control and are difficult to predict.
Therefore, actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements.
View’s business is subject to a number of risks which are described
more fully in View’s definitive proxy statement filed with the SEC
on February 16, 2021, as amended on February 23, 2021, which
is incorporated by reference into its Current Report on
Form 8-K filed with the SEC on March 12, 2021. View
undertakes no obligation to update forward-looking statements to
reflect events or circumstances after the date hereof.
Contacts:
For Investors:
Samuel MeehanView, Inc.IR@View.com408-493-1358
View (NASDAQ:VIEW)
Historical Stock Chart
From Mar 2024 to Apr 2024
View (NASDAQ:VIEW)
Historical Stock Chart
From Apr 2023 to Apr 2024