Infinera Corporation Announces Notification of Delinquency with Nasdaq
November 16 2023 - 5:00PM
Infinera (NASDAQ: INFN) announced today that it received a
delinquency notification letter from the Listing Qualifications
Staff of The Nasdaq Stock Market LLC (“Nasdaq”) on November 10,
2023 (the “Notice”). The Notice indicated that Infinera was not in
compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”)
as a result of its failure to timely file its Quarterly Report on
Form 10-Q for the quarter ended September 30, 2023 (the “Form
10-Q”), as described more fully in Infinera’s Form 12b-25
Notification of Late Filing filed with the Securities and Exchange
Commission (the “SEC”) on November 8, 2023. The Listing Rule
requires listed companies to timely file all required periodic
financial reports with the SEC.
Nasdaq has informed Infinera that it must submit a plan of
compliance (the “Plan”) by January 9, 2024 addressing how it
intends to regain compliance with Nasdaq’s listing rules. Infinera
will continue to work with its auditors with the objective of
filing the Form 10-Q as soon as practicable and will work
diligently to submit the Plan promptly and take the necessary steps
to regain compliance as soon as practicable.
Contacts:Media:Anna VueTel. +1 (916)
595-8157avue@infinera.com
Investors:Amitabh Passi, Head of Investor RelationsTel. +1 (669)
295-1489apassi@infinera.com
About InfineraInfinera is a global supplier of
innovative open optical networking solutions and advanced
optical semiconductors that enable carriers, cloud operators,
governments, and enterprises to scale network bandwidth, accelerate
service innovation, and automate network operations. Infinera
solutions deliver industry-leading economics and performance in
long-haul, submarine, data center interconnect, and metro transport
applications. To learn more about Infinera,
visit www.infinera.com, follow us
on X and LinkedIn, and subscribe for
updates.
Infinera and the Infinera logo are registered trademarks of
Infinera Corporation.
This press release contains forward-looking statements.
Forward-looking statements include statements regarding our
expectations, beliefs, intentions, or strategies and can be
identified by words such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “intend,” “may,” “should,” “will,” and
“would” or similar words. Such forward-looking statements in this
press release include, but are not limited to, Infinera’s
expectations about the timing of completion and filing of the Form
10-Q, statements related to Infinera’s Plan, and timing and actions
taken to regain compliance with Nasdaq. Actual results may vary
materially from these expectations as a result of various risks and
uncertainties. Information about these risks and uncertainties, and
other risks and uncertainties that affect Infinera’s business, is
contained in the risk factors section and other sections of
Infinera’s Quarterly Report on Form 10-Q for the quarter ended July
1, 2023, as filed with the SEC on August 9, 2023, as well as any
subsequent reports filed with or furnished to the SEC. These
reports are available on Infinera’s website
at www.infinera.com and the SEC’s website
at www.sec.gov. Infinera assumes no obligation to, and does
not currently intend to, update any forward-looking statements
contained herein.
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