DZS receives expected Nasdaq notice regarding late form 10-Q filing

DZS announced that on November 10, 2023, as expected, it received a delinquency notification letter from the Nasdaq Stock Market indicating that the Company is not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1) because the Company did not timely file its Quarterly Report on Form 10-Q for the three months ended September 30, 2023. The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market. As previously reported by the Company in its Notification of Late Filing on Form 12b-25, filed with the Securities and Exchange Commission on November 9, 2023, the Company was unable to timely file the Third Quarter 10-Q without unreasonable effort or expense by the prescribed due date for such filing. As previously disclosed, following the Company’s failure to file its Quarterly Report on Form 10-Q for the three months ended June 30, 2023, the Company submitted a plan to regain compliance with the Rule, and Nasdaq granted an exception for the Company to submit an update to the Compliance Plan on or before November 24, 2023. At such time, Nasdaq will consider whether to provide the Company a further extension until February 5, 2024.