Summary by Moomoo AI
Exela Technologies, Inc. received a notice from the Nasdaq Listing Qualifications Staff on March 14, 2024, indicating that the company is not in compliance with Nasdaq's Listing Rules due to its failure to hold an annual shareholder meeting within twelve months of the end of the 2022 fiscal year. Despite this, the company's listing on the Nasdaq Capital Market remains unaffected for the time being. Exela Technologies has until April 29, 2024, to submit a plan to regain compliance, with the possibility of an extension until June 28, 2024, if the plan is accepted. The company had previously postponed its 2023 annual meeting to June 13, 2024, due to a lack of quorum and now plans to either reconvene the meeting on the same date or combine it with the 2024 annual meeting. While the company intends to submit a compliance plan, there is no guarantee that Nasdaq will accept it or that Exela Technologies will be able to meet the annual meeting requirement or other listing standards in the future.