Dentsply Sirona Receives Notice of Filing Delinquency from Nasdaq
May 18 2022 - 8:00AM
DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the "Company") (Nasdaq:
XRAY) received written notification from The NASDAQ Stock Market
(“Nasdaq”) on May 12, 2022 that the Company is no longer in
compliance with the Nasdaq Listing Rules since the Company has not
yet filed its Quarterly Report on Form 10-Q for the period ended
March 31, 2022 (the “Quarterly Report”). Nasdaq Listing Rule
5250(c)(1) requires Nasdaq-listed companies to timely file all
periodic reports.
The Company has up to 60 days to either cure the deficiency or
to submit a plan to Nasdaq showing how it intends to regain
compliance. If the plan is accepted, Nasdaq can grant an extension
of the grace period for shares of the Company’s common stock to
remain listed for up to 180 calendar days from the Quarterly
Report’s due date to regain compliance.
This notice from Nasdaq has no immediate effect on the listing
of the Company’s common stock on the Nasdaq Global Market. As
previously reported by the Company in its Notification of Late
Filing on Form 12b-25, filed with the Securities and Exchange
Commission (the “Commission”) on May 10, 2022, the Company was
unable to file the 10-Q for the period ended March 31, 2022 within
the prescribed period because the Company’s Audit and Finance
Committee, together with independent outside counsel, is conducting
an investigation concerning the Company’s use of incentives to sell
products to distributors in the third and fourth quarters of 2021,
whether those incentives were appropriately accounted for and
whether the impact of those sales was adequately disclosed in the
Company’s periodic reports filed with the Commission. The Company
expects to file the Quarterly Report as soon as practicable.
About Dentsply SironaDentsply
Sirona is the world’s largest manufacturer of professional dental
products and technologies, with a century of innovation and service
to the dental industry and patients worldwide. Dentsply Sirona
develops, manufactures, and markets a comprehensive solutions
offering including dental and oral health products as well as other
consumable medical devices under a strong portfolio of world class
brands. Dentsply Sirona’s products provide innovative, high-quality
and effective solutions to advance patient care and deliver better
and safer dental care. Dentsply Sirona's headquarters is located in
Charlotte, North Carolina. The Company’s shares of common stock are
listed in the United States on Nasdaq under the symbol XRAY. Visit
www.dentsplysirona.com for more information about Dentsply Sirona
and its products.
Contact
Information:Investors:Andrea DaleyVice President, Investor
Relations+1-704-805-1293InvestorRelations@dentsplysirona.com
Forward-Looking Statements and
Associated Risks
All statements in this press release that do not directly and
exclusively relate to historical facts constitute “forward-looking
statements.” These statements represent current expectations and
beliefs, and no assurance can be given that the results described
in such statements will be achieved. Such statements are subject to
numerous assumptions, risks, uncertainties and other factors that
could cause actual results to differ materially from those
described in such statements, many of which are outside of our
control. Furthermore, many of these risks and uncertainties are
currently amplified by and may continue to be amplified by or may,
in the future, be amplified by, the novel coronavirus (“COVID-19”)
pandemic and the impact of varying private and governmental
responses that affect our customers, employees, vendors and the
economies and communities where they operate. For a written
description of these factors, see the section titled “Risk Factors”
in Dentsply Sirona’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2021 and any updating information in subsequent
SEC filings including the Company's Quarterly Report on Form 10-Q
for the quarterly period ending March 31, 2022. No assurance
can be given that any expectation, belief, goal or plan set forth
in any forward-looking statement can or will be achieved, and
readers are cautioned not to place undue reliance on such
statements which speak only as of the date they are made. We do not
undertake any obligation to update or release any revisions to any
forward-looking statement or to report any events or circumstances
after the date of this press release or to reflect the occurrence
of unanticipated events.
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