DALLAS, Nov. 18,
2022 /PRNewswire/ -- COMSovereign Holding Corp.
(NASDAQ: COMS and COMSP) ("COMSovereign" or the "Company"), a
U.S.-based developer of 4G LTE Advanced and 5G communication
systems and solutions, today announced that on November 16, 2022, the Company received notice
from the Listing Qualifications Department of The Nasdaq Stock
Market LLC ("Nasdaq") stating that the Company's failure to timely
file its Quarterly Report on Form 10-Q for the period ended
September 30, 2022 (the "Q3 2022 Form
10-Q"), with the Securities and Exchange Commission (the "SEC")
could serve as an additional basis for delisting under Nasdaq
Listing Rule 5250(c)(1) (the "Filing Requirement").
The Company has already presented its plan to regain compliance
with the Filing Requirement, including via the filing of the Q3
2022 Form 10-Q with the SEC, to a Nasdaq Hearings Panel ("the
Panel"). At the hearing, the Company requested the continued
listing of its securities on Nasdaq pending the Company's
compliance with all applicable listing criteria, including the
Filing Requirement and the $1.00 bid
price requirement, which remains under consideration by the Panel.
There can be no assurance that the Panel will grant the Company's
request or that the Company will be able to timely satisfy the
terms of any extension that may be granted by the Panel.
COMSovereign intends to update the market promptly following
receipt of the Panel's determination.
For more information about COMSovereign, please visit
www.COMSovereign.com and connect with us on Facebook and
Twitter.
About COMSovereign Holding
Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) has assembled a
portfolio of communications technology companies that enhance
connectivity across the entire data transmission spectrum. Through
strategic acquisitions and organic research and development
efforts, COMSovereign has become a U.S.-based communications
provider able to provide 4G LTE Advanced and 5G telecom solutions
to network operators and enterprises. For more information about
COMSovereign, please visit www.COMSovereign.com.
Forward-Looking
Statements
Certain statements in this press release that are not historical
facts are forward-looking statements that reflect management's
current expectations, assumptions, and estimates of future
performance and economic conditions, and involve risks and
uncertainties that could cause actual results to differ materially
from those anticipated by the statements made herein.
Forward-looking statements are generally identifiable by the use of
forward-looking terminology such as "believe," "expects," "may,"
"looks to," "will," "should," "plan," "intend," "on condition,"
"target," "see," "potential," "estimates," "preliminary," or
"anticipates" or the negative thereof or comparable terminology, or
by discussion of strategy or goals or other future events,
circumstances, or effects. Further information relating to factors
that may impact the Company's results and forward-looking
statements are disclosed in the Company's filings with the SEC. The
forward-looking statements contained in this press release are made
as of the date of this press release, and the Company disclaims any
intention or obligation, other than imposed by law, to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Contacts:
Steve Gersten, Director of
Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.ne
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SOURCE COMSovereign Holding Corp.