Atlanticus Holdings Corporation (NASDAQ:ATLC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
The NASDAQ Stock Market advised Atlanticus Holdings Corporation (the “Company”) on February 20, 2018 that the market value of publicly held shares of the Company had been below the minimum of $15,000,000 for the previous 30 consecutive business days, which is required for continued listing on The NASDAQ Global Select Market to NASDAQ Listing Rule 5450(b)(2)(C) (the “Listing Rule”).
to NASDAQ Listing Rule 5810(c)(3)(D), NASDAQ has provided the Company with 180 calendar days, or until August 20, 2018, to regain compliance with the Listing Rule. During this period, the Company’s common stock will continue to trade uninterrupted on The NASDAQ Global Select Market under the symbol “ATLC.” To regain compliance, the market value of the Company’s publicly held shares must be at least $15,000,000 for a minimum of 10 consecutive business days at any time before August 20, 2018. If the Company regains compliance with the Listing Rule, NASDAQ will provide written confirmation to the Company and close the matter.
If the Company does not regain compliance with the Listing Rule by August 20, 2018, it will receive notice of delisting from NASDAQ, which notice may be appealed at that time. Further, the Company may transfer its common stock listing to The NASDAQ Capital Market, provided it meets the continued listing requirements for that market.
The Company fully expects to regain compliance with the Listing Rule by August 20, 2018. Alternatively, the Company may transfer its listing to The NASDAQ Capital Market.
This Current Report on Form 8-K includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which are beyond our control. We caution you that the forward-looking statements presented herein are not a guarantee of future events, and that actual events and results may differ materially from those made in or suggested by the forward-looking statements contained herein.
Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Forward-looking statements contained herein include, without limitation, statements regarding the maintenance of the Company’s common stock listing on NASDAQ, the Company regaining compliance with NASDAQ continued listing requirements, the transfer of the Company’s common stock listing to The NASDAQ Capital Market and related expectations and assumptions.
A number of important factors could cause actual events and results to differ materially from those contained in or implied by the forward-looking statements, including those factors discussed in our Annual Report on Form 10-K, filed on March 31, 2017 with the Securities and Exchange Commission, and in our Quarterly Reports on Form 10-Q filed subsequent thereto. Any forward-looking statements included herein are made only as of the date hereof, and we do not undertake any obligation to update or revise such statements to reflect any changes in expectations, or any changes in events or circumstances on which those statements are based, except as required by law.
About Atlanticus Holdings Corporation (NASDAQ:ATLC)
Atlanticus Holdings Corporation is focused on providing financial services. Through its subsidiaries, the Company offers an array of financial products and services. The Company operates through two segments: Credit and Other Investments, and Auto Finance. The Company’s Credit and Other Investments segment includes its point-of-sale and direct-to-consumer finance operations, investments in and servicing of its various credit card receivables portfolios and other product development and limited investment in consumer finance technology platforms that capitalize on its credit infrastructure. The Company’s Auto Finance segment operations are principally conducted through its CAR platform, which purchases and services loans secured by automobiles from or for a pre-qualified network of independent automotive dealers and automotive finance companies in the buy-here, pay-here used car business. The Company also provides loan servicing activities.