QualTek Services Inc.: Nasdaq/NYSE listing notice — QualTek misses $3.7M interest payment, enters forbearance; Nasdaq delisting risk for late 10-K

QualTek Services Inc.

Missed $3.7M interest on Convertible Notes due 2027; event of default could accelerate $130M principal.
Forbearance agreements with 72% of noteholders, ABL lenders (commitment cut to $90M from $105M), and term loan lenders allowing up to $20M new money.
Received Nasdaq delisting notice for failure to file Form 10-K; 60 days to submit compliance plan.
Company may need bankruptcy restructuring; warns Class A holders will likely receive no value.
Waiver/forbearance periods expire May 15, 2023, unless other defaults occur.

item 3.01 item 7.01 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 0.9

QualTek Services Inc. 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

April 18, 2023, QualTek Services Inc., a Delaware corporation (the “ Company ”), received a notice (the “ Notice ”) from The Nasdaq Stock Market LLC (“ Nasdaq ”) stating that because the Company has not yet filed its Form 10-K (the “ Form 10-K ”), the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “ SEC ”). This notification has no immediate effect on the listing of the Company’s shares on Nasdaq. However, if the Company fails to timel

View on SEC.gov

Browse all listing & compliance notices →

Source: SEC EDGAR

accession 0001104659-23-049048

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.