Super Micro Computer (SMCI) has received an extension from the Nasdaq Stock Market until February 25, 2025, to file its FY2024 annual report (Form 10-K), Q1 2025 quarterly report (Form 10-Q), and any other required filings. This reprieve allows SMCI to avoid a potential delisting for the time being.
"On December 6, 2024...Nasdaq has granted the Company’s request for an exception...through February 25, 2025."
The extension provides SMCI with additional time to address the allegations raised by Hindenburg Research in August 2024. These allegations, which included claims of channel stuffing, partial shipments, and questionable relationships with suppliers, led to the delay in filing the financial reports.
SMCI's shares will continue to be listed on the Nasdaq Global Select Market during this period.
A special committee formed by SMCI's board to investigate the allegations recently concluded its review and recommended the appointment of a new CFO and Chief Accounting Officer. While largely exonerating existing executives, the company announced in early December that current CFO David Weigand will be replaced, and Kenneth Cheung has been appointed as the new Chief Accounting Officer.
