Near Intelligence, Inc. Announces Notification from Nasdaq Related to Delayed Form 10-Q Filing
November 20 2023 - 4:37PM
Business Wire
Near Intelligence, Inc. (NASDAQ:NIR) (“Near” or the “Company”),
a privacy-led data intelligence company, announced today that it
received a notice (the “Notice”) from the Listing Qualifications
Staff of the Nasdaq Stock Market LLC (“Nasdaq”) on November 16,
2023 stating that the Company is not in compliance with Nasdaq
Listing Rule 5250(c)(1) as a result of the Company’s failure to
timely file its Quarterly Report on Form 10-Q for the fiscal
quarter ended September 30, 2023 (the “Quarterly Report”) with the
Securities and Exchange Commission.
On November 14, 2023, the Company filed a Notification of Late
Filing on Form 12b-25 indicating that the filing of the Quarterly
Report would be delayed until it completes its previously announced
internal investigation into allegations of financial mismanagement
and potential fraudulent actions taken by its former chief
executive officer and its former chief financial officer and is
then able to assess the findings of the investigation and undertake
remedial actions, if necessary.
Under the Nasdaq Listing Rules, the Company has 60 calendar days
(until January 14, 2024) to submit a plan to regain compliance. If
Nasdaq accepts the Company’s plan, Nasdaq can grant an exception of
up to 180 calendar days of the Quarterly Report’s original due
date, which 180-day period would end on May 13, 2024, to regain
compliance. If Nasdaq does not accept the Company’s plan, then the
Company will have the opportunity to appeal that decision to a
Nasdaq Hearings Panel.
The Notice has no immediate impact on the listing of the
Company’s securities, which will continue to trade on Nasdaq,
subject to the Company’s compliance with other continued listing
requirements of Nasdaq.
About Near
Near, a global, privacy-led data intelligence platform, curates
one of the world’s largest sources of intelligence on people and
places. Near’s patented technology analyzes data to deliver
insights on approximately 1.6 billion unique user IDs across 70
million points of interest in more than 44 countries. With Near’s
three-pillared approach – high-quality data, privacy, and AI –
operational and marketing leaders are empowered with solutions to
successfully engage and grow their businesses at scale. With a
presence in Pasadena, San Francisco, Paris, Bangalore, Singapore,
Sydney, and Tokyo, Near serves enterprises in a diverse spectrum of
industries including retail, real estate, restaurant,
travel/tourism, telecom, media, and more. To learn more, please
visit: https://near.com.
Additional information about Near is available at
investors.near.com. The Company plans to routinely post important
information on that site.
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version on businesswire.com: https://www.businesswire.com/news/home/20231120694418/en/
Investor Contact IR@near.com
Media Contact Cate Zovod PR@near.com
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