Procaps Group Receives Nasdaq Notice Related to Late Filing of its Form 20-F
20 Mai 2024 - 10:05PM
Business Wire
Procaps Group (Nasdaq: PROC) (“Procaps” or the “Company”), a
leading integrated LatAm healthcare and pharmaceutical services
company, today announced that it has received a letter from the
Nasdaq Stock Market, dated May 16, 2024 (the “Delinquency Letter”),
notifying the Company that it is not in compliance with the
requirements for continued listing set forth in Nasdaq Listing Rule
5250(c)(1) because it did not timely file its annual report on Form
20-F for the year ended December 31, 2023 (the “2023 20-F”).
In accordance with Nasdaq Listing Rules, the Company has 60
calendar days from the date of the Delinquency Letter to submit a
plan to regain compliance with Nasdaq Listing Rules (the
“Compliance Plan”). If Nasdaq accepts the Compliance Plan, Nasdaq
may grant the Company an extension until November 11, 2024 to
regain compliance. If Nasdaq does not accept the Compliance Plan,
the Company will have the opportunity to appeal that decision to
the Nasdaq Hearings Panel.
The Company intends either to file its 2023 20-F or submit the
Compliance Plan within the prescribed 60-day period. The Company
will continue to work diligently with the objective of filing the
Form 20-F as soon as practicable and will work diligently to submit
the Plan promptly and take the necessary steps to regain compliance
as soon as practicable.
This announcement is made in compliance with Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification.
About Procaps Group
Procaps Group, S.A. (“Procaps”) (Nasdaq: PROC) is a leading
developer of pharmaceutical and nutraceutical solutions, medicines,
and hospital supplies that reach more than 50 countries in all five
continents. Procaps has a direct presence in 13 countries in the
Americas and more than 5,000 employees working under a sustainable
model. Procaps develops, manufactures, and markets over-the-counter
(OTC) pharmaceutical products, prescription pharmaceutical drugs
(Rx), nutritional supplements, and high-potency clinical
solutions.
For more information, visit www.procapsgroup.com or Procaps’
investor relations website investor.procapsgroup.com.
Forward-Looking Statements
The foregoing contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, including, without
limitation, including the Company’s expectations about the timing
of completion and filing of the 2023 20-F, statements related to
the Company’s Plan, and timing and actions taken to regain
compliance with Nasdaq. These forward-looking statements involve
risks and uncertainties, and actual results could vary materially
from these forward-looking statements. Factors that may cause
future results to differ materially from management’s current
expectations include, among other things, the discovery of
additional information relevant to the internal review; the
conclusions of management (and the timing of the conclusions)
concerning matters relating to the internal review; the timing of
the review by, and the conclusions of, the Company’s independent
registered public accounting firm regarding the internal review and
the Company’s financial statements; the possibility that errors may
be identified; and the risk that the completion and filing of the
Form 20-F will take longer than expected. The Company disclaims any
obligation to update information contained in these forward-looking
statements whether as a result of new information, future events,
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240517286964/en/
Investor Contact: Melissa Angelini ir@procapsgroup.com
investor.procapsgroup.com
Procaps (NASDAQ:PROC)
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