HORIZON BANCORP INC /IN/ (HBNC): Nasdaq/NYSE listing notice — Horizon Bancorp receives NASDAQ delisting notice for late 10-K filing; cites material weaknesses in internal controls

HORIZON BANCORP INC /IN/

NASDAQ notice due to failure to timely file 2022 Form 10-K by March 1, 2023; company miscalculated public float as accelerated vs large accelerated filer.
Company has 60 days to submit a compliance plan to NASDAQ; believes it will regain compliance after filing 10-K.
Identified material weaknesses in internal controls, including accounting revisions for loan participations, dealer reserves, securities classification, and public float calculation.
Company expects no material changes to previously reported financial results from the January 25, 2023 Earnings Release.
First-time failure to timely file a periodic report in company history.

item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

HORIZON BANCORP INC /IN/ received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

March 6, 2023, Horizon Bancorp, Inc. (“Horizon Bancorp” or the “Company”) received a letter (the “Letter”) from The NASDAQ Stock Market LLC (“NASDAQ”) indicating that, as a result of not having timely filed its Annual Report on Form 10–K for the year ended December 31, 2022 (the “2022 Form 10–K”) by March 1, 2023 with the Securities and Exchange Commission (the “SEC”), the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the SEC. Prior to receiving the Letter from NASDAQ, the Company believed it quali

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HORIZON BANCORP INC /IN/ filing history →

Source: SEC EDGAR

accession 0000706129-23-000031

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