SAN JOSE, Calif.--(BUSINESS WIRE)--Mar. 16, 2018--
Super Micro Computer, Inc. (NASDAQ:SMCI) (the “Company”),a
global leader in high performance, high-efficiency server, storage
technology and green computing, today announced that it has received a
letter from the staff of the Listing Qualifications Department (the
“Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company
that since it remains delinquent in filing its Annual Report on Form
10-K for the fiscal year ended June 30, 2017 and its Quarterly Reports
on Form 10-Q for the quarterly periods ended September 30, 2017 and
December 31, 2017, the Staff has determined that the Company is
non-compliant with Nasdaq Listing Rule 5250(c)(1). Previously the Staff
granted the Company an extension until March 13, 2018 to file all
delinquent periodic reports. As a result of the foregoing, the Company’s
common stock is subject to suspension in trading on March 23, 2018 and
delisting from Nasdaq unless the Company requests a hearing before a
Hearings Panel by March 21, 2018.
On March 16, 2018, the Company submitted a letter to Nasdaq requesting a
hearing before a Hearings Panel at which it intends to present its plan
to regain and thereafter maintain compliance with all applicable Nasdaq
listing requirements. The hearing request automatically stays the
delisting process for a period of 15 calendar days from the date of the
deadline to request a hearing. The Hearings Panel has the authority to
grant the Company additional time of up to 360 days from the original
due date of the Company’s first late filing to regain compliance before
further action would be taken to delist the Company’s common stock.
In connection with its request for a hearing, the Company has also
requested a stay of the suspension of trading and delisting of its
common stock, pending the decision of the Hearings Panel. The Hearings
Panel will notify the Company by April 5, 2018 of its decision to allow
the Company to continue to trade on Nasdaq pending the hearing and a
decision by the Hearings Panel. There can be no assurance that the
Hearings Panel will grant the Company’s request for continued listing or
stay the delisting of its common stock.
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this press release that are not historical fact
may be forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements may relate to, among other
things, the Company’s presentation to the Hearings Panel and its
expectations as to its ability to regain and maintain compliance with
Nasdaq’s continued listing standards. Such forward-looking statements do
not constitute guarantees of future performance and are subject to a
variety of risks and uncertainties. Additional factors that could cause
actual results to differ materially from those projected or suggested in
any forward-looking statements are contained in our filings with the
Securities and Exchange Commission, including those factors discussed
under the caption "Risk Factors" in such filings.
About Super Micro Computer, Inc.
Supermicro®, a global leader in high-performance, high-efficiency server
technology and innovation is a premier provider of end-to-end green
computing solutions for Data Center, Cloud Computing, Enterprise IT,
Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermicro's
advanced Server Building Block Solutions® offer a vast array of
components for building energy-efficient, application-optimized,
computing solutions. Architecture innovations include Twin, TwinPro,
FatTwin™, Ultra Series, MicroCloud, MicroBlade, SuperBlade®,
Double-sided Storage®, Battery Backup Power (BBP®) modules and WIO/UIO.
Products include servers, blades, GPU systems, workstations,
motherboards, chassis, power supplies, storage, networking, server
management software and SuperRack® cabinets / accessories delivering
unrivaled performance and value.
Founded in 1993 and headquartered in San Jose, California, Supermicro is
committed to protecting the environment through its "We Keep IT Green®"
initiative. The Company has global logistics and operations centers in
Silicon Valley (USA), the Netherlands (Europe) and its Science &
Technology Park in Taiwan (Asia). Supermicro, FatTwin, TwinPro,
SuperBlade, Double-Sided Storage, BBP, SuperRack, Building Block
Solutions and We Keep IT Green are trademarks and/or registered
trademarks of Super Micro Computer, Inc. All other brands, names and
trademarks are the property of their respective owners.
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Source: Super Micro Computer, Inc.
Super Micro Computer, Inc.
Perry G. Hayes, 408-895-6570