, /PRNewswire/ -- Today, Urban One, Inc. (the "Company") reported that on , the Company received a second letter (the "Second Nasdaq Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it was further non-compliant with Nasdaq Listing Rule 5250(c)(1) (the "Periodic Filing Rule") as a result of not having timely filed its Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the "2024 Q1 Form 10-Q") with the United States Securities and Exchange Commission ("SEC"). The Second Nasdaq Notice noted that on April 8, 2024, Nasdaq sent the Company a letter notifying the Company that it was not in compliance with the Periodic Filing Rule as it did not timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "2023 Form 10-K" and, together with the 2024 Q1 Form 10-Q, the "Delayed Filings"), with the SEC.
Under the Nasdaq rules, the Company now has until , to file the Delayed Filings or submit a plan to regain compliance. If Nasdaq accepts the compliance plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the due date for the initial delinquent filing, or until , to regain compliance. The Company is working diligently and expects to file its Delayed Filings on or before , which would eliminate the need for the Company to submit a formal plan to regain compliance.
This notification has no immediate effect on the listing of the Company's common st.
