PFSweb Receives Nasdaq Notice on Late Filing of its Form 10-K
21 Mars 2022 - 9:05PM
PFSweb, Inc. (NASDAQ: PFSW) (the “Company”), a global commerce
services company, announced that, as expected, it has received a
notice from the Nasdaq Stock Market on March 18, 2022 notifying the
Company that it is not in compliance with the periodic filing
requirements for continued listing set forth in in Nasdaq Listing
Rule 5250(c)(1) because the Company's Annual Report on Form 10-K
for the year ended December 31, 2021 (the "2021 10-K") was not
filed with the Securities and Exchange Commission by the required
due date of March 16, 2022.
This Notice received from Nasdaq has no immediate effect on the
listing or trading of the Company's shares. Nasdaq has provided the
Company with 60 calendar days, until May 17, 2022, to submit a plan
to regain compliance. If Nasdaq accepts the Company's plan, then
Nasdaq may grant the Company up to 180 days from the prescribed due
date for the filing of the 2021 10-K, or September 12, 2022, to
regain compliance.
The Company expects and intends to submit to Nasdaq the
compliance plan by May 16, 2022.
The Company continues to work diligently to complete its 2021
10-K and continues to target filing the 2021 10-K with the SEC in
late April or early May 2022, and its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2022 by mid-June 2022, after which
the Company anticipates maintaining compliance with its SEC
reporting obligations and Nasdaq listing requirements.
This announcement is made in compliance with Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification.
About PFS
PFS, the business unit of PFSweb, Inc. (NASDAQ: PFSW) is a
premier eCommerce order fulfillment provider. We facilitate each
operational step of an eCommerce order in support of DTC and B2B
retail brands and specialize in health & beauty, fashion &
apparel, jewelry, and consumer packaged goods. Our scalable
solutions support customized pick/pack/ship services that deliver
on brand ethos with each order. A proven order management platform,
as well as high-touch customer care, reinforce our operation. With
20+ years as an industry leader, PFS is the BPO of choice for
brand-centric companies and household brand names, such as L’Oréal
USA, Champion, Pandora, Shiseido Americas, Kendra Scott, the United
States Mint, and many more. The Company is headquartered in Allen,
TX with additional locations around the globe. For more
information, visit www.pfscommerce.com or ir.pfsweb.com for
investor information.
For Media: Longacre Square Partners Dan
Zacchei/Joe Germani/Ashley Areopagita PFSweb@longacresquare.com
Investor Relations:Cody Slach or Jackie
KeshnerGateway Group, Inc.1-949-574-3860PFSW@gatewayir.com
Pfsweb (NASDAQ:PFSW)
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