Nvni Group Limited Receives Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
Nvni Group (Nasdaq: NVNI) has received a staff determination letter from Nasdaq on November 12, 2024, indicating non-compliance with Listing Rule 5250(c)(1) due to failure to file its 2023 Annual Report. The company has appealed the delisting determination to the Nasdaq Hearings Panel, which automatically stays the suspension for 15 days. Nvni is requesting an extended stay to maintain its listing during the appeal process and is working to complete and file the 2023 Annual Report. The company notes that this situation doesn't affect its business operations or SEC reporting obligations.
Nvni Group (Nasdaq: NVNI) ha ricevuto una lettera di determinazione del personale da parte di Nasdaq il 12 novembre 2024, che indica la non conformità con la Regola di Listing 5250(c)(1) a causa del mancato deposito del Rapporto Annuale 2023. L'azienda ha appellato la decisione di delisting al Nasdaq Hearings Panel, che sospende automaticamente la sospensione per 15 giorni. Nvni sta richiedendo una proroga per mantenere la sua quotazione durante il processo di appello e sta lavorando per completare e depositare il Rapporto Annuale 2023. L'azienda osserva che questa situazione non influisce sulle sue operazioni commerciali o sugli obblighi di reporting presso la SEC.
Nvni Group (Nasdaq: NVNI) ha recibido una carta de determinación del personal por parte de Nasdaq el 12 de noviembre de 2024, indicando la no conformidad con la Regla de Cotización 5250(c)(1) debido a la falta de presentación de su Informe Anual de 2023. La empresa ha apelado la decisión de deslistado ante el panel de audiencias de Nasdaq, que automáticamente suspende la suspensión por 15 días. Nvni está solicitando una prórroga para mantener su cotización durante el proceso de apelación y está trabajando para completar y presentar el Informe Anual de 2023. La empresa señala que esta situación no afecta sus operaciones comerciales ni sus obligaciones de reporte ante la SEC.
Nvni Group (Nasdaq: NVNI)는 2024년 11월 12일에 Nasdaq으로부터 직원 결정서를 수신하여 2023년 연례 보고서를 제출하지 않아 Listing Rule 5250(c)(1) 비준수로 통보받았습니다. 이 회사는 Nasdaq Hearings Panel에 대한 상장 폐지 결정에 항소하였으며, 이로 인해 자동으로 15일간의 일시 정지가 연기됩니다. Nvni는 항소 과정 동안 상장을 유지하기 위해 연장된 일시 정지를 요청하고 있으며, 2023년 연례 보고서를 완료하고 제출하기 위해 노력하고 있습니다. 이 회사는 이 상황이 비즈니스 운영이나 SEC 보고 의무에 영향을 미치지 않는다고 언급하였습니다.
Nvni Group (Nasdaq: NVNI) a reçu le 12 novembre 2024 une lettre de détermination du personnel de Nasdaq indiquant une non-conformité avec la Règle de Cotation 5250(c)(1) en raison de l'absence de dépôt de son Rapport Annuel 2023. L'entreprise a fait appel de la décision de retrait de la cotation auprès du Nasdaq Hearings Panel, ce qui suspend automatiquement la suspension pendant 15 jours. Nvni demande une prolongation pour maintenir sa cotation pendant le processus d'appel et travaille à l'achèvement et au dépôt du Rapport Annuel 2023. L'entreprise note que cette situation n'affecte pas ses opérations commerciales ni ses obligations de déclaration auprès de la SEC.
Nvni Group (Nasdaq: NVNI) hat am 12. November 2024 einen Bestimmungsbrief vom Nasdaq erhalten, der auf die Nichterfüllung der Listing-Regel 5250(c)(1) hinweist, da der Jahresbericht 2023 nicht eingereicht wurde. Das Unternehmen hat die Entscheidung zur Delisting beim Nasdaq Hearings Panel angefochten, was automatisch die Suspension für 15 Tage aussetzt. Nvni beantragt eine Verlängerung des Aufschubs, um die Listung während des Berufungsverfahrens aufrechtzuerhalten, und arbeitet daran, den Jahresbericht 2023 abzuschließen und einzureichen. Das Unternehmen merkt an, dass diese Situation keine Auswirkungen auf seine Geschäftstätigkeit oder die Berichtspflichten gegenüber der SEC hat.
- Automatic 15-day suspension stay granted during appeal process
- Business operations remain unaffected
- Risk of potential delisting from Nasdaq
- Failure to file 2023 Annual Report
- Non-compliance with Nasdaq listing requirements
- Uncertainty about extended stay approval
Insights
This delisting notice represents a significant regulatory challenge for NVNI. The failure to file the 2023 annual report is a material compliance issue that puts the company's Nasdaq listing at risk. While NVNI has appealed and received an automatic 15-day stay, the extended listing status remains uncertain. For a micro-cap company with a market cap of just
The delisting risk could trigger forced selling by institutional investors with mandate restrictions, potentially impacting stock liquidity and valuation. The company's active pursuit of compliance and appeal process provides some reassurance, but investors should monitor this situation closely as loss of Nasdaq listing could severely impact trading accessibility and market perception.
NEW YORK, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Nvni Group Limited (Nasdaq: NVNI) (“Nuvini”) today announced that it has received a staff determination letter (the “Determination Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on November 12, 2024. The Determination Letter states that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) due to its failure to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2023 (the “2023 Annual Report”).
On November 15, 2024, the Company submitted a timely appeal of the delisting determination to the Nasdaq Hearings Panel (the "Panel") in accordance with Nasdaq’s procedures. Under Nasdaq Listing Rules, the request for a hearing automatically stays the suspension of the Company’s securities for 15 days. Additionally, the Company intends to request an extended stay, allowing its securities to remain listed and traded under the ticker symbol “NVNI” during the appeal process and any extension period granted by the Panel.
The Company is actively working to complete and file its 2023 Annual Report with the U.S. Securities and Exchange Commission (the “SEC”) as quickly as possible. However, there is no assurance that the Panel will grant the Company’s request for an extended stay or that it will determine the Company has regained compliance with all Nasdaq listing requirements.
The Determination Letter does not impact the Company’s business operations or its reporting obligations with the SEC. Nvni Group remains committed to resolving this matter promptly and keeping its shareholders informed of any updates regarding its Nasdaq listing status.
About Nuvini
Headquartered in São Paulo, Brazil, Nuvini is Latin America's leading acquirer of B2B SaaS businesses. Focused on profitable companies with recurring revenue and growth potential, it fosters an entrepreneurial environment to help its acquisitions deliver mission-critical solutions and achieve industry leadership. Its long-term strategy emphasizes value creation through partnerships with existing management.
For more information, visit www.nuvini.co
For further information or media inquiries regarding this partnership, please contact:
Nuvini Investor and Media Contact
Camilla Carrapatoso
ir@nuvini.co
FAQ
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