Delisting Determination, The Nasdaq Stock Market, LLC, October 15, 2024.
DZS Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the securities of DZS Inc., effective at the opening
of the trading session on October 25, 2024.
Based on review of information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5250(c)(2).
The Company was notified of the Staff determination on February 6,
2024. On February 13, 2024, the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings Panel
(Panel) pursuant to Listing Rule 5815.
On April 1, 2024, the Company received additional delist
determination letters for its failure to comply with the filing
requirements in Listing Rule 5250(c)(1).
On April 22, 2024, upon review of the information provided by the
Company, the Panel determined to grant the Company request to remain
listed in the Exchange subject to a series of milestones
(the Decision).
On May 14, 2024, the Company received additional delist
determination letters for its failure to comply with the filing
requirements in Listing Rule 5250(c)(1).
On August 6, 2024, based on the Company failure to meet the terms
of the amended Decision, the Panel determined to delist the Company.
The Company securities were suspended on August 8, 2024.
The Company did not appeal the delist decision to the Nasdaq Listing
and Hearing Review Council (Council) and the Council did not call
the matter for review. The Staff determination to delist the Company
became final on September 20, 2024.