SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 23, 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, as expected, the
Company received a notification letter from The Nasdaq Stock Market
Hearings Panel (the “Panel”) on August 22, 2018, indicating that trading
in the Company’s common stock on Nasdaq’s Global Select Market will be
suspended effective at the open of business on August 23, 2018.
The Company previously announced on August 21, 2018 that it did not
expect to regain compliance with the Nasdaq continued listing
requirements by August 24, 2018, the deadline previously set by the
Panel.
The Panel’s letter also stated that the Panel has determined to delist
the Company’s shares from Nasdaq after applicable appeal periods have
lapsed. The Company intends to appeal the Panel’s decision to the Nasdaq
Listing and Hearing Review Council. During the appeal period, trading in
the Company’s common stock on Nasdaq will remain suspended and Nasdaq
will not delist the Company’s common stock pending such appeal. Once the
Company has regained compliance with its SEC filing requirements, the
Company intends to promptly request that Nasdaq lift the suspension in
trading of its common stock or, in the event the common stock is
delisted, to promptly apply to relist its common stock on Nasdaq or
another national securities exchange.
While the Company’s common stock is suspended from trading on Nasdaq,
the Company expects that its shares will be quoted on the OTC Markets
under the trading symbol SMCI. For quotes or additional information on
the OTC Markets, you may visit http://www.otcmarkets.com.
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. Forward-looking statements generally relate to future
events or the Company’s future financial or operating performance. In
some cases, you can identify forward-looking statements because they
contain words such as “may,” “will,” “should,” “expects,” “plans,”
“anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,”
“believes,” “estimates,” “predicts,” “potential” or “continue” or the
negative of these words or other similar terms or expressions that
concern the Company’s expectations, strategy, plans or intentions. Such
forward-looking statements may relate to, among other things, the
Company’s continued efforts and ability to regain and maintain
compliance with the Nasdaq Listing Rules, including any appeal of the
Panel decision, the expectations of trading on the OTC Markets, and the
Company’s ability to regain listing of its common stock on Nasdaq or
another national stock exchange in the event that its shares are
delisted. Such forward-looking statements do not constitute guarantees
of future performance and are subject to a variety of risks and
uncertainties. Actual results may vary materially from those expressed
or implied by the forward-looking statements herein due to a variety of
factors, including: any decision or action by Nasdaq with respect to the
suspension and delisting of the Company’s common stock; the Company’s
decision to seek an appeal of the Panel decision and any decision of the
Nasdaq Listing and Hearing Review Council with respect thereto; the
ability of the Company to file its delinquent and other SEC filings and
regain compliance with the Nasdaq Listing Rules; and those other factors
and risks contained in the Company’s filings with the SEC, 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,
AI/Deep Learning, 5G, 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 with NVMe storage support.
Architecture innovations include BigTwin, TwinPro, FatTwin™, Ultra
Series, MicroCloud, MicroBlade, SuperBlade®, Double-sided Storage®, and
Resource-Saving Architecture. Products include servers, blades, GPU
systems, workstations, motherboards, chassis, power supplies, storage,
networking, server management software and SuperRack® cabinets and
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, BigTwin, FatTwin, TwinPro, SuperBlade, Double-Sided Storage,
SuperRack, Server 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.
SMCI-F
View source version on businesswire.com: https://www.businesswire.com/news/home/20180822005721/en/
Source: Super Micro Computer, Inc.
Super Micro Computer, Inc.
Perry G. Hayes, 408-895-6570
SVP,
Investor Relations
PerryH@Supermicro.com