TUCSON,
Ariz., Oct. 20, 2023 /PRNewswire/ -- COMSovereign
Holding Corp. (NASDAQ: COMS and COMSP) ("COMSovereign" or the
"Company"), a U.S.-based developer of 4G LTE Advanced and 5G
communication systems and solutions, today announced that on
October 16, 2023, the Company
received notice from the Nasdaq Listing Qualifications Staff (the
"Staff") indicating that the Staff had determined to delist the
Company's securities from Nasdaq unless the Company timely requests
a hearing before the Nasdaq Hearings Panel (the "Panel"). The
Company plans to timely request a hearing before the Panel, at
which hearing the Company will present its plan to evidence
compliance with Nasdaq's filing requirement and request an
extension to do so. The Company will also request a further stay of
any suspension action pending the Company's hearing and the
expiration of any extension the Panel may grant to the Company
following the hearing.
The Staff's determination was based upon the Company's continued
non-compliance with the filing requirement set forth in Nasdaq
Listing Rule 5250(c)(1) because the Company has not yet filed its
Form 10-K for the year ended December 31, 2022, and Forms 10-Q for
the periods ended March 31, 2023, and June 30, 2023.
For more information about COMSovereign, please visit
www.COMSovereign.com and connect with us on Facebook and
Twitter.
About COMSovereign Holding Corp.
COMSovereign Holding
Corp. (Nasdaq: COMS) has assembled a portfolio of communications
technology companies that enhance connectivity across the entire
data transmission spectrum. Through strategic acquisitions and
organic research and development efforts, COMSovereign has become a
U.S.-based communications provider able to provide 4G LTE Advanced
and 5G telecom solutions to network operators and enterprises. For
more information about COMSovereign, please visit
www.COMSovereign.com.
Forward-Looking Statements
Certain statements in this
press release that are not historical facts are forward-looking
statements that reflect management's current expectations,
assumptions, and estimates of future performance and economic
conditions, and involve risks and uncertainties that could cause
actual results to differ materially from those anticipated by the
statements made herein. Forward-looking statements are generally
identifiable by the use of forward-looking terminology such as
"believe," "expects," "may," "looks to," "will," "should," "plan,"
"intend," "on condition," "target," "see," "potential,"
"estimates," "preliminary," or "anticipates" or the negative
thereof or comparable terminology, or by discussion of strategy or
goals or other future events, circumstances, or effects. Further
information relating to factors that may impact the Company's
results and forward-looking statements are disclosed in the
Company's filings with the SEC. The forward-looking statements
contained in this press release are made as of the date of this
press release, and the Company disclaims any intention or
obligation, other than imposed by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Contacts:
Steve Gersten, Director of
Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE COMSovereign Holding Corp.