Lee Enterprises in compliance with Nasdaq listing standards

Rhea-AI Summary

Lee Enterprises, Incorporated (NASDAQ: LEE) announced compliance with Nasdaq listing standards following a letter received on March 3, 2023. This letter concludes a listing standard delinquency matter initiated on December 28, 2022, after the company filed its 2022 Annual Report (Form 10-K) on February 27, 2023, and its first-quarter 2023 report (Form 10-Q) on March 2, 2023. The company now adheres to Nasdaq Listing Rule 5250(c)(1), ensuring timely periodic report filings with the SEC. Lee operates a significant digital-first subscription platform offering local news and information across 77 markets, with an average daily newspaper circulation of 1.0 million and over 38 million digital unique visitors.

Positive

• Company is now compliant with Nasdaq listing standards.
• Resolved listing standard delinquency matter from December 2022.
• Recent filings of 2022 10-K and Q1 2023 10-Q demonstrate timely reporting.

Negative

• None.

DAVENPORT, Iowa, March 10, 2023 (GLOBE NEWSWIRE) -- On March 3, 2023, Lee Enterprises, Incorporated (NASDAQ: LEE), a digital-first subscription platform providing high quality, trusted, local news, information and a major platform for advertising in 77 markets, received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), indicating the Company is in compliance with listing standards.

This letter closes the listing standard delinquency matter opened by Nasdaq on December 28, 2022, as the Company filed its 2022 Annual Report on Form 10-K on February 27, 2023, and its first quarter 2023 Quarterly Report on Form 10-Q on March 2, 2023. The Company is now in compliance with Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of periodic reports with the Securities and Exchange Commission.

About Lee

Lee Enterprises is a major subscription and advertising platform and a leading provider of local news and information, with daily newspapers, rapidly growing digital products and over 350 weekly and specialty publications serving 77 markets in 26 states. Year to date, Lee's newspapers have average daily circulation of 1.0 million, and our legacy websites, including acquisitions, reach more than 38 million digital unique visitors. Lee's markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ. Lee Common Stock is traded on NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net.

Contact IR@lee.net (563) 383-2100

FAQ

What does the Nasdaq compliance letter mean for Lee Enterprises?

It means Lee Enterprises is now compliant with Nasdaq listing standards after resolving previous delinquency issues.

What reports did Lee Enterprises file to regain compliance?

Lee filed its 2022 Annual Report on Form 10-K on February 27, 2023, and its Q1 2023 Quarterly Report on Form 10-Q on March 2, 2023.

What is the significance of the Nasdaq Listing Rule 5250(c)(1)?

This rule requires companies to file periodic reports with the SEC in a timely manner, which Lee has now achieved.

How many markets does Lee Enterprises serve?

Lee Enterprises serves 77 markets across 26 states.

What are Lee Enterprises' digital reach metrics?

Lee's legacy websites attract over 38 million digital unique visitors.