Primis Financial Corp. Receives Nasdaq Notice Regarding Delayed 10-K Filing
Primis Financial Corp. (NASDAQ: FRST) has received a notice from Nasdaq on April 3, 2025, indicating non-compliance with Listing Rule 5250(c)(1) due to delayed filing of its Form 10-K for the period ending December 31, 2024. The company has appealed the determination on April 9, 2025, requesting a hearing and stay of delisting.
The appeal automatically provides a 15-day trading suspension stay, with common stock continuing to trade on Nasdaq during this period. Primis expects to file the Form 10-K before the hearing and anticipates regaining compliance without suspension or delisting of its securities.
As of December 31, 2024, Primis reported:
- Total assets: $3.7 billion
- Total loans held for investment: $2.9 billion
- Total deposits: $3.2 billion
Primis Financial Corp. (NASDAQ: FRST) ha ricevuto una notifica da Nasdaq il 3 aprile 2025, che indica la non conformità con la Regola di Quotazione 5250(c)(1) a causa del ritardo nella presentazione del suo Modulo 10-K per il periodo conclusosi il 31 dicembre 2024. L'azienda ha presentato ricorso contro la determinazione il 9 aprile 2025, richiedendo un'udienza e la sospensione della delisting.
Il ricorso fornisce automaticamente una sospensione delle contrattazioni di 15 giorni, con le azioni ordinarie che continuano a essere scambiate su Nasdaq durante questo periodo. Primis prevede di presentare il Modulo 10-K prima dell'udienza e si aspetta di riacquistare la conformità senza sospensioni o delisting dei suoi titoli.
Al 31 dicembre 2024, Primis ha riportato:
- Attivi totali: $3,7 miliardi
- Prestiti totali detenuti per investimento: $2,9 miliardi
- Depositi totali: $3,2 miliardi
Primis Financial Corp. (NASDAQ: FRST) ha recibido un aviso de Nasdaq el 3 de abril de 2025, indicando el incumplimiento de la Regla de Cotización 5250(c)(1) debido al retraso en la presentación de su Formulario 10-K para el período que finaliza el 31 de diciembre de 2024. La empresa ha apelado la determinación el 9 de abril de 2025, solicitando una audiencia y la suspensión del desliste.
La apelación proporciona automáticamente una suspensión de negociación de 15 días, con las acciones ordinarias continuando negociándose en Nasdaq durante este período. Primis espera presentar el Formulario 10-K antes de la audiencia y anticipa recuperar la conformidad sin suspensión o desliste de sus valores.
Al 31 de diciembre de 2024, Primis informó:
- Activos totales: $3.7 mil millones
- Préstamos totales mantenidos para inversión: $2.9 mil millones
- Depósitos totales: $3.2 mil millones
프리미스 파이낸셜 코퍼레이션 (NASDAQ: FRST)는 2025년 4월 3일 나스닥으로부터 2024년 12월 31일 종료 기간에 대한 10-K 양식 제출 지연으로 인해 상장 규정 5250(c)(1) 위반 통지를 받았습니다. 회사는 2025년 4월 9일 이 결정에 대해 항소하며 청문회와 상장 폐지 유예를 요청했습니다.
항소는 자동으로 15일간의 거래 중단 유예를 제공하며, 이 기간 동안 보통주는 나스닥에서 계속 거래됩니다. 프리미스는 청문회 전에 10-K 양식을 제출할 것으로 예상하며, 증권의 유예나 상장 폐지 없이 준수를 회복할 것으로 기대하고 있습니다.
2024년 12월 31일 기준으로 프리미스는 다음과 같이 보고했습니다:
- 총 자산: 37억 달러
- 투자를 위해 보유한 총 대출: 29억 달러
- 총 예금: 32억 달러
Primis Financial Corp. (NASDAQ: FRST) a reçu un avis de Nasdaq le 3 avril 2025, indiquant un non-respect de la Règle de Cotation 5250(c)(1) en raison du retard dans le dépôt de son Formulaire 10-K pour la période se terminant le 31 décembre 2024. La société a fait appel de la décision le 9 avril 2025, demandant une audience et un sursis à la radiation.
L'appel fournit automatiquement un sursis de négociation de 15 jours, les actions ordinaires continuant à être négociées sur Nasdaq pendant cette période. Primis s'attend à déposer le Formulaire 10-K avant l'audience et anticipe de retrouver la conformité sans suspension ni radiation de ses titres.
Au 31 décembre 2024, Primis a rapporté :
- Actifs totaux : 3,7 milliards de dollars
- Prêts totaux détenus pour investissement : 2,9 milliards de dollars
- Dépôts totaux : 3,2 milliards de dollars
Primis Financial Corp. (NASDAQ: FRST) hat am 3. April 2025 eine Mitteilung von Nasdaq erhalten, die auf die Nichterfüllung der Listing-Regel 5250(c)(1) aufgrund der verspäteten Einreichung ihres Formulars 10-K für den Zeitraum zum 31. Dezember 2024 hinweist. Das Unternehmen hat am 9. April 2025 gegen die Entscheidung Berufung eingelegt und um eine Anhörung sowie die Aussetzung der Delistung gebeten.
Die Berufung gewährt automatisch eine 15-tägige Handelsaussetzung, während die Stammaktien in diesem Zeitraum weiterhin an der Nasdaq gehandelt werden. Primis erwartet, das Formular 10-K vor der Anhörung einzureichen und rechnet damit, die Konformität ohne Aussetzung oder Delistung seiner Wertpapiere wiederzuerlangen.
Zum 31. Dezember 2024 berichtete Primis:
- Gesamtvermögen: 3,7 Milliarden Dollar
- Gesamtdarlehen, die zur Investition gehalten werden: 2,9 Milliarden Dollar
- Gesamteinlagen: 3,2 Milliarden Dollar
- None.
- None.
On April 9, 2025, the Company appealed the Staff's determination in accordance with the procedures set forth in the Nasdaq Listing Rules, requested a hearing before the Panel, and an extension of Nasdaq's stay of delisting (the "Hearing Request").
The Hearing Request automatically stayed any suspension of trading for 15 calendar days from the date of the Hearing Request and the Company's common stock will continue to trade on Nasdaq during such stay. While the determination on whether to grant the extended stay during the appeal process will be made by the Panel, the Company believes that it satisfies the standards for the granting of such an extended stay and does not anticipate that the Company's securities will be suspended or delisted as a result of the Notice.
The Company plans to file the Form 10-K as promptly as practicable and currently expects to do so prior to the hearing, at which point the Company will be in compliance with the Listing Rules.
The Notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Global Select Market and the Company expects to regain compliance in advance of the hearing before the Panel.
About Primis Financial Corp.
As of December 31, 2024, Primis had
Contacts: | Address: |
Dennis J. Zember, Jr., President and CEO | Primis Financial Corp. |
Matthew A. Switzer, EVP and CFO | 1676 International Drive, Suite 900 |
Phone: (703) 893-7400 | |
Primis Financial Corp., NASDAQ Symbol FRST
Website: www.primisbank.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act, about the Company that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "intend," "may," "plan," "should," "will," or the negative of these words or other similar terms or expressions. Important factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, a further material delay in the Company's financial reporting, including as a result of unanticipated factors or factors that the Company currently believes will not cause delay that could cause further delay; the possibility that the ongoing review may identify errors or control deficiencies in the Company's accounting practices; the risk that any restatements may subject us to unanticipated costs or regulatory penalties and could cause investors to lose confidence in the accuracy and completeness of our financial statements; the likelihood that the control deficiencies that may be identified in the future will result in material weaknesses in the Company's internal control over financial reporting; the possibility that the Company is unable to regain compliance with, or thereafter continue to comply with, the Nasdaq Listing Rules, or experience violations of additional Listing Rules; the possibility that Nasdaq may deny the Company's appeal and delist the Company's securities; the risk of investigations or actions by governmental authorities or regulators and the consequences thereof, including the imposition of penalties; the risk that the Company may become subject to shareowner lawsuits or claims; risks related to our ability to implement and maintain effective internal control over financial reporting and/or disclosure controls and procedures in the future, which may adversely affect the accuracy and timeliness of our financial reporting; the inherent limitations in internal control over financial reporting and disclosure controls and procedures; remediation of any potential deficiencies with respect to the Company's internal control over financial reporting and/or disclosure controls and procedures may be complex and time-consuming; and the impact of these matters on the Company's performance and outlook and other factors contained in the "Risk Factors" section and elsewhere in the Company's filings with the SEC from time to time, including, but not limited to, its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. The forward-looking statements in this press release are based upon information available to the Company as of the date of this press release, and while the Company believes such information forms a reasonable basis for such statements, such information may be limited or incomplete, and its statements should not be read to indicate that the Company has conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. Except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
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SOURCE Primis Financial Corp.
FAQ
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