Smith Micro Software Faces Delisting Concerns

TL;DR

SMSI might get kicked off the exchange - big trouble.

AI Summary

Smith Micro Software, Inc. filed an 8-K on November 27, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company is based in Pittsburgh, PA, and its fiscal year ends on December 31st.

Why It Matters

This filing indicates potential issues with Smith Micro Software's continued listing on a stock exchange, which could impact its stock's liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards suggests significant financial or operational distress for the company.

Key Players & Entities

• SMITH MICRO SOFTWARE, INC. (company) — Registrant
• November 26, 2024 (date) — Date of earliest event reported
• November 27, 2024 (date) — Date of Report
• 5800 Corporate Drive Pittsburgh, PA 15237 (address) — Principal Executive Offices
• 001-35525 (company_id) — Commission File Number

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share SMSI NASDAQ Indicate by che
• $1.00 m — ive business days having been below the $1.00 minimum bid price requirement for continu
• $1.00 — d price of the Common Stock is at least $1.00 per share for a minimum of ten consecut

Filing Documents

• smsi-20241126.htm (8-K) — 30KB
• 0000948708-24-000036.txt ( ) — 152KB
• smsi-20241126.xsd (EX-101.SCH) — 2KB
• smsi-20241126_lab.xml (EX-101.LAB) — 21KB
• smsi-20241126_pre.xml (EX-101.PRE) — 12KB
• smsi-20241126_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 November 26, 2024, Smith Micro Software, Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market ("Nasdaq") indicating that as result of the closing bid price of the Company's common stock ("Common Stock") for the last 30 consecutive business days having been below the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement") the Company was not in compliance with the Minimum Bid Price Requirement (the "Minimum Bid Price Notice"). The Minimum Bid Price Notice has no immediate effect on the continued listing status of the Company's Common Stock on The Nasdaq Capital Market, and, therefore, the Company's listing remains fully effective. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until May 26, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before May 26, 2025, the closing bid price of the Common Stock is at least $1.00 per share for a minimum of ten consecutive business days, unless Nasdaq exercises its discretion to extend this ten-day period, Nasdaq will provide written confirmation stating that the Company has achieved compliance with the Minimum Bid Price Requirement. If the Company's Common Stock does not regain compliance with the Minimum Bid Price Requirement during this initial 180-day compliance period, the Company may be eligible for an additional compliance period of 180 calendar days provided that (i) the Company satisfies Nasdaq's continued listing requirement for market value of publicly held shares and all other initial listing standards, other than the Minimum Bid Price Requirement; and (ii) the Company provides written notice to Nasdaq of its intention

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements. Any statements about the Company's expectations, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends," and similar words or phrases. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these statements are not guarantees of future performance and involve risks and uncertainties which are subject to change based on various important factors, some of which are beyond the Company's control. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Current Report on Form 8-K and are subject to a number of risks, uncertainties and assumptions including, without limitation, risks and factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and the Company's Quarterly Reports on Form 10-Q, which are on file with the SEC and available on the SEC's website at www.sec.gov. The Company does not undertake any obligation to update any forward-looking statements made in this Current Report on Form 8-K as a result of new information, future events or otherwise.

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 thereunto duly authorized. Smith Micro Software, Inc. Date: November 27, 2024 By: /s/ James M. Kempton James M. Kempton Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR