Skillz Inc. Faces Delisting Concerns
Ticker: SKLZ · Form: 8-K · Filed: Apr 8, 2024 · CIK: 1801661
| Field | Detail |
|---|---|
| Company | Skillz Inc. (SKLZ) |
| Form Type | 8-K |
| Filed Date | Apr 8, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: SKLZ
TL;DR
Skillz might get delisted, big trouble for SKLZ stock.
AI Summary
Skillz Inc. filed an 8-K on April 8, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company, formerly known as Flying Eagle Acquisition Corp., is incorporated in Delaware and headquartered in Las Vegas, Nevada.
Why It Matters
This filing indicates potential issues with Skillz Inc.'s continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading and overall financial stability.
Key Players & Entities
- Skillz Inc. (company) — Registrant
- Flying Eagle Acquisition Corp. (company) — Former company name
- April 2, 2024 (date) — Earliest event reported
- April 8, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- Las Vegas, Nevada (location) — Principal executive offices
FAQ
What is the primary reason for Skillz Inc.'s 8-K filing on April 8, 2024?
The primary reason is a notice of delisting or failure to satisfy a continued listing rule or standard.
What was Skillz Inc.'s former company name?
Skillz Inc.'s former company name was Flying Eagle Acquisition Corp.
In which state is Skillz Inc. incorporated?
Skillz Inc. is incorporated in Delaware.
What is the address of Skillz Inc.'s principal executive offices?
The address of Skillz Inc.'s principal executive offices is 6625 Badura Avenue, Las Vegas, Nevada 89118.
What is the earliest event date reported in this 8-K filing?
The earliest event date reported is April 2, 2024.
Filing Stats: 863 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-04-08 16:05:10
Key Financial Figures
- $0.0001 — stered Class A common stock, par value $0.0001 per share SKLZ NYSE Indicate by chec
Filing Documents
- sklz-20240402.htm (8-K) — 36KB
- latefilingnoticepressrel.htm (EX-99.1) — 8KB
- latefilingnoticepressrel001.jpg (GRAPHIC) — 261KB
- latefilingnoticepressrel002.jpg (GRAPHIC) — 190KB
- 0001801661-24-000038.txt ( ) — 790KB
- sklz-20240402.xsd (EX-101.SCH) — 2KB
- sklz-20240402_lab.xml (EX-101.LAB) — 21KB
- sklz-20240402_pre.xml (EX-101.PRE) — 12KB
- sklz-20240402_htm.xml (XML) — 3KB
01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 2, 2024, Skillz Inc. (the "Company") received a notice (the "NYSE Notice") from the New York Stock Exchange (the "NYSE") that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "Form 10-K") with the Securities and Exchange Commission (the "SEC"). The NYSE Notice has no immediate effect on the listing of the Company's common stock on the NYSE. The NYSE Notice informed the Company that, under NYSE rules, the Company has six months from March 15, 2024 to regain compliance with the NYSE listing standards by filing the Form 10-K with the SEC. If the Company fails to file the Form 10-K within the six-month period, the NYSE may grant, in its sole discretion, an extension of up to six additional months for the Company to regain compliance, depending on the specific circumstances. The NYSE Notice also notes that the NYSE may nevertheless commence delisting proceedings at any time if it deems that the circumstances warrant. As previously reported in the Company's Notification of Late Filing on Form 12b-25 filed with the SEC on March 14, 2024 (the "Form 12b-25"), the Company was unable to file the Form 10-K within the prescribed period because the Company requires more time to complete the procedures relating to its year-end process, including the completion of the audit of the Company's financial statements by the Company's independent auditors for inclusion in the Form 10-K. Subsequent to filing the Form 12b-25, the Company continued to dedicate significant resources to the completion of such procedures but was unable to file the Form 10-K by April 1, 2024, the end of the extension period provided by the Form 12b-25. The Company requires additional time to complete such procedures. Based on c
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release, dated April 8, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SKILLZ INC. By: /s/ Nikul D. Patel Name: Nikul D. Patel Title: Interim General Counsel Date: April 8, 2024