FedNat Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)

Rhea-AI Summary

FedNat Holding Company (Nasdaq: FNHC) announced on August 17, 2022, that it received a notice from Nasdaq for failing to timely file its Quarterly Report on Form 10-Q for the quarter ending June 30, 2022. The company has 60 days to submit a compliance plan and expects to file the report within this timeframe. The notice does not currently affect the listing or trading of FNHC's common stock on Nasdaq.

Positive

• The company plans to file the Form 10-Q within the 60-day compliance period.
• The notice has no immediate impact on FNHC's stock listing or trading.

Negative

• Failure to file the Form 10-Q could lead to potential delisting if compliance is not achieved.

SUNRISE, Fla., Aug. 19, 2022 (GLOBE NEWSWIRE) -- FedNat Holding Company (the “Company”) (Nasdaq: FNHC), a regional insurance holding company, today announced that on August 17, 2022, it received notice (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.

The Company has a period of 60 days from the Notice date to submit a plan to regain compliance with the Nasdaq Listing Rules. The Company has advised Nasdaq that it anticipates filing the Form 10-Q within such 60-day period. The Notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Global Market.

About the Company

FedNat Holding Company is an insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries, equity investments and contractual relationships with independent agents and general agents. More information is available at https://www.fednat.com/investor-relations/.

Contacts

David K. Patterson, Interim CEO (954) 308-1322

Erick A. Fernandez, Interim CFO (954) 308-1341

Bernard Kilkelly, Investor Relations (954) 308-1409

or investorrelations@fednat.com

FAQ

What compliance issue did FedNat Holding Company (FNHC) face?

FedNat received a notice from Nasdaq for not timely filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.

What is the time frame for FNHC to regain compliance with Nasdaq?

FNHC has 60 days from the notice date to submit a compliance plan.

Will FNHC's stock be affected by the compliance notice?

The notice currently has no immediate effect on the listing or trading of FNHC's common stock.

What happens if FNHC does not comply with Nasdaq requirements?

Failure to comply could potentially lead to delisting from the Nasdaq.