Inspired Entertainment, Inc. Receives Expected Nasdaq Notification Regarding Delayed Form 10-K
April 09 2024 - 8:00AM
Inspired Entertainment, Inc. (NASDAQ: INSE) (“Inspired” or the
“Company”), a leading B2B provider of gaming content, technology,
hardware and services, today announced that it received a standard
notification letter from the Listing Qualifications Department of
the Nasdaq Stock Market (“Nasdaq”) stating the Company was not in
compliance with the requirements of Nasdaq Listing Rule 5250(c)(1)
as a result of not having timely filed its Form 10-K for the year
ended December 31, 2023 (the “2023 Form 10-K”) with the Securities
and Exchange Commission.
This notification has no immediate effect on the
listing of the Company’s common stock on Nasdaq. Under the Nasdaq
rules, the Company has 60 calendar days, or until June 3, 2024 to
file the 2023 Form 10-K or to submit to Nasdaq a plan to regain
compliance with the Nasdaq Listing Rule. If the Company submits a
plan to Nasdaq, which Nasdaq accepts, Nasdaq can grant an exception
of up to 180 calendar days from the filing’s due date, or until
September 11, 2024, to regain compliance. However, if the Company
fails to timely regain compliance with Nasdaq Listing Rule
5250(c)(1), the Company’s common stock will be subject to delisting
from Nasdaq.
The Company currently intends to file the 2023
Form 10-K by no later than April 15, 2024.
This announcement is made in compliance with the
Nasdaq Listing Rule 5810(b), which requires prompt disclosure of
receipt of a notification of deficiency.
About Inspired Entertainment,
Inc.
Inspired offers an expanding portfolio of
content, technology, hardware and services for regulated gaming,
betting, lottery, social and leisure operators across retail and
mobile channels around the world. The Company’s gaming, virtual
sports, interactive and leisure products appeal to a wide variety
of players, creating new opportunities for operators to grow their
revenue. The Company operates in approximately 35 jurisdictions
worldwide, supplying gaming systems with associated terminals and
content for approximately 50,000 gaming machines located in betting
shops, pubs, gaming halls and other route operations; virtual
sports products through more than 32,000 retail venues and various
online websites; interactive games for 170+ websites; and a variety
of amusement entertainment solutions with a total installed base of
more than 16,000 terminals. Additional information can be found at
www.inseinc.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements may be identified by the use
of forward-looking terminology such as “expects,” “believes,”
“estimates,” “projects,” “intends,” “plans,” “seeks,” “may,”
“will,” “should” or “anticipates” or the negative or other
variations of these or similar words and other similar expressions
that indicate future events or trends or are not statements of
historical matters. Although the Company believes that its
expectations are based on reasonable assumptions within the bounds
of the Company’s knowledge of its business, there can be no
assurance that actual results will not differ materially from its
expectations. Meaningful factors that could cause actual results to
differ from expectations include, but are not limited to, risks
relating to the final impact on the Company of the restatement of
certain of the Company’s financial statements; the risk that the
Company may not be able to satisfy the terms of any Plan of
Compliance it submits to Nasdaq, or that Nasdaq will accept the
Plan of Compliance or provide any other accommodations to the
Company; those risks set forth in the “Risk Factors” section of the
Company’s annual report on Form 10-K/A for the fiscal year ended
December 31, 2022, and in subsequent quarterly reports on Form
10-Q, which are available, free of charge, on the U.S. Securities
and Exchange Commission’s website at www.sec.gov and on the
Company’s website at www.inseinc.com. The Company does not intend
to update publicly any forward-looking statements, except as
required by law. In light of these risks, uncertainties and
assumptions, the forward-looking events discussed in this news
release may not occur.
Contact:For
InvestorsIR@inseinc.com +1 646 277-1285
For Press and Salesinspiredsales@inseinc.com
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