SIGMATRON INTERNATIONAL INC: Nasdaq/NYSE listing notice — SigmaTron gets Nasdaq delinquency notice for late 10-Q; impairment & covenant issues cited

SIGMATRON INTERNATIONAL INC

Nasdaq notified SigmaTron of non-compliance with Listing Rule 5250(c)(1) for missing Jan 31, 2023 10-Q filing.
Delay driven by impairment assessment for Wagz subsidiary (non-cash charges) and forbearance talks with JPMorgan & TCW on loan covenant defaults.
Must submit compliance plan by May 22, 2023; Nasdaq may grant extension to September 13, 2023.
No immediate effect on listing or trading of SGMA common stock on Nasdaq Capital Market.
Company working to complete the Form 10-Q; late filing notice (Form 12b-25) filed on March 20.

item 3.01 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

SIGMATRON INTERNATIONAL 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

March 23, 2023, SigmaTron International, Inc. (NASDAQ: SGMA), an electronic manufacturing services company (the “Company”) received a delinquency notification letter (“Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1), requiring timely filing of all required periodic financial reports with the Securities and Exchange Commission because the Company did not timely file its Form 10-Q for the fiscal quarter ended January 31, 2023 (the “Form 10-Q”). The Notice states that

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Source: SEC EDGAR

accession 0001193125-23-080490

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