September 17, 2024 12:44:35 pm

Nasdaq warns Gores Holdings IX over late quarterly report

By BizWest Staff

BOULDER — Gores Holdings IX Inc. (Nasdaq: GHIX), a special-purpose acquisition company operated by The Gore Group, recently received a delinquency notification letter from Nasdaq as a result of the company’s failure to file a timely quarterly report in the second quarter of this year.

“The notice has no immediate effect on the listing of the company’s securities on Nasdaq,” Gores said in a disclosure. “However, if the company fails to timely regain compliance with the rule, the company’s securities will be subject to delisting from Nasdaq.”

Gores must provide Nasdaq with a plan for compliance within 60 days.

The company said its “failure to timely file the Q2 2024 Form 10-Q was as a result of the discovery of potential errors for the accounting of the company’s tax provision, which the audit committee of the board of directors of the company has determined impacted the company’s previously filed annual and quarterly reports.”

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The disclosure continued: “The company is currently diligently working with its independent registered public accounting firm to complete the necessary audits and restatements in order to file the Q2 2024 Form 10-Q and other amended periodic filings, and will provide Nasdaq with its plan to regain compliance by the applicable deadline.”

Gores Holdings IX Inc., a special-purpose acquisition company operated by The Gore Group, recently received a delinquency notification letter from Nasdaq as a result of the company’s failure to file a timely quarterly report in the second quarter of this year.