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| (a) | The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
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☒ | (b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and |
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| (c) | The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
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PART III – NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
Advanced Energy Industries, Inc. (the “Company”) was notified on February 26, 2022 by Ernst & Young LLP (the “Firm”), its independent registered public accounting firm, that due to unexpected changes in the Firm’s personnel, the Firm requires additional time to complete the audit of the Company’s consolidated financial statements as of and for the fiscal year ended December 31, 2021 in accordance with the standards of the Public Company Accounting Oversight Board. The Company had previously been informed by the Firm that it believed that the audit was on schedule for a timely completion by February 28, 2022. However, as a result of the unexpected changes in its personnel late in the audit process, the Firm was unable to complete its audit procedures and supporting documentation in order to render its audit opinion by March 1, 2022.
The Company fully expects to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “Form 10-K”) within the extension period of 15 calendar days as provided under Rule 12b-25 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Company does not expect any changes or adjustments to current and/or previously reported financial results, including the financial results it previously reported in its press release furnished as Exhibit 99.1 to the Company’s Current Report on Form 8-K filed February 9, 2022.
Attached hereto and filed as Exhibit 99.1 to this Form 12b-25 is the statement of Ernst & Young LLP as contemplated by Rule 12b-25(c) of the Exchange Act.
Exhibit 99.1 Statement from Ernst & Young LLP
PART IV – OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification
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Paul Oldham EVP, Chief Financial Officer | (970) | 407-6626 |
(Name) | (Area Code) | (Telephone Number) |
(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). Yes ☒ No ☐