Veradigm Inc. Announces that Nasdaq Hearings Panel has Granted its Continued Listing, Pending Return to Compliance with Nasdaq Filing Requirements
December 13 2023 - 4:05PM
Business Wire
Veradigm Inc. (NASDAQ: MDRX (the “Company”)) announced today
that it received a decision from the Nasdaq Hearings Panel (the
“Panel”) granting its request for continued listing on the Nasdaq
Capital Market, subject to the Company demonstrating compliance
with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rules”) on or
before February 27, 2024, and certain other conditions, including
the achievement of various interim milestones (the “Panel
Decision”).
As previously disclosed, the Company remains noncompliant with
the Listing Rules because the Company has not filed its Annual
Report on Form 10-K for the year ended December 31, 2022 (the “Form
10-K”) or its Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2023, June 30, 2023 and September 30, 2023 (collectively,
the “Form 10-Qs”). The Listing Rules require listed companies to
timely file all periodic reports with the Securities and Exchange
Commission (the “SEC”).
The Panel Decision has no immediate effect on the listing of the
Company’s common stock on the Nasdaq Global Select Market. The
Company plans to file its Form 10-K and the Form 10-Qs as soon as
possible; however, no assurance can be given as to the definitive
date on which such periodic reports will be filed.
About Veradigm®
Veradigm is a healthcare technology company that drives value
through its unique combination of platforms, data, expertise,
connectivity, and scale. The Veradigm Network features a dynamic
community of solutions and partners providing advanced insights,
technology, and data-driven solutions, all working together to
transform healthcare insightfully. For more information on
Veradigm, visit www.veradigm.com, or find Veradigm on LinkedIn,
Facebook, Twitter, and YouTube
© 2023 Veradigm Inc. and/or its affiliates. All Rights
Reserved.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, but are not limited
to, statements regarding the Company’s beliefs and expectations
relating to the filing of the Form 10-K and Form 10-Qs. These
forward-looking statements are based on the current beliefs and
expectations of the Company’s management with respect to future
events, only speak as of the date that they are made and are
subject to significant risks and uncertainties. Such statements can
be identified by the use of words such as “future,” “anticipates,”
“believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,”
“will,” “would,” “could,” “continue,” “can,” “may,” “look forward,”
“aim,” “hopes,” and similar terms, although not all forward-looking
statements contain such words or expressions. Actual results could
differ significantly from those set forth in the forward-looking
statements.
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 the
recently-announced leadership changes, an inability to timely
prepare restated financial statements, unanticipated factors or
factors that the Company currently believes will not cause delay,
the impacts of the previously disclosed ongoing internal
investigation by the Audit Committee of the Company’s Board of
Directors, including on the Company’s remediation efforts and
preparation of financial statements or other factors that could
cause additional delay or adjustments, the possibility that the
ongoing review may identify additional errors and material
weaknesses or other deficiencies in the Company’s accounting
practices, the likelihood that the control deficiencies identified
or that may be identified in the future will result in additional
material weaknesses in the Company’s internal control over
financial reporting, the Company being delisted if the Company is
unable to regain compliance with Nasdaq Listing Rule 5250(c)(1) or
meet any of the interim milestones in the Panel Decision, the
possibility that the Company subsequently fails to remain in
compliance with Nasdaq Listing Rule 5250(c)(1) or experiences
violations of additional Nasdaq Listing Rules, the possibility that
the Nasdaq Listing and Hearing Review Council reviews the Panel
Decision 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 Company does not
undertake to update any forward-looking statements to reflect
changed assumptions, the impact of circumstances or events that may
arise after the date of the forward-looking statements, or other
changes over time, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231213382711/en/
Investors:
Investor.relations@veradigm.com
Media: Ray Joske
Ray.joske@veradigm.com
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