Aeries Technology Updates Investors on Nasdaq Filing Notice
Aeries Technology, Inc. has informed investors that it received a deficiency notice from Nasdaq, a signal that the Company is behind on required periodic filings. The notification came from Nasdaq’s Listing Qualifications Staff and stems from delays in submitting key financial reports. Aeries Technology, known for its professional services and technology consulting work, disclosed the matter to keep investors aware of the status of its filings and next steps.
Details of the Notification
According to the letter, Aeries Technology is not in compliance with Nasdaq Listing Rule 5250(c)(1). The issue arises from two outstanding reports: the Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and the Annual Report on Form 10-K for the fiscal year ended March 31, 2024. The Company has already acknowledged the delay by submitting a Form 12b-25, the Notification of Late Filing. In short, the notice centers on timeliness and the need to bring both the 10-Q and 10-K current.
Protocol Following the Notice
Aeries Technology has until the end of September 2024 to submit a plan to Nasdaq explaining how it intends to regain compliance. After reviewing that plan, Nasdaq may allow an extension of up to 180 days. If granted, that would give Aeries Technology until January 13, 2025, to meet the applicable requirements. The immediate priority, therefore, is straightforward: file the overdue 10-Q and 10-K, and provide a clear path to timely filings.
Company’s Commitment to Compliance
While precise timelines are hard to pin down, Aeries Technology states it’s working to finalize and submit the overdue filings as quickly as possible. If Nasdaq requests it, the Company intends to present a comprehensive plan that lays out how and when those filings will be completed. The goal is simple and direct—address the late reports and keep investors informed—reflecting the Company’s focus on regulatory adherence and transparency.
About Aeries Technology
Aeries Technology (NASDAQ: AERT) helps businesses navigate change. Founded in 2012, the firm has built a team of more than 1,700 professionals with expertise across Technology Services, Business Process Management, and Digital Transformation. Its personalized engagement models and specialized services are designed to sharpen operations and support business outcomes. The Company also emphasizes workforce development and has been recognized with the Great Place to Work Certification.
Frequently Asked Questions
Why did Aeries Technology receive a notice from Nasdaq?
Nasdaq’s Listing Qualifications Staff issued the notice because Aeries Technology is not in compliance with Nasdaq Listing Rule 5250(c)(1), driven by delayed periodic filings.
Which filings are outstanding?
The Company has not yet filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and its Annual Report on Form 10-K for the fiscal year ended March 31, 2024.
What happens next, and what are the key dates?
Aeries Technology must submit a compliance plan by the end of September 2024. Nasdaq may, at its discretion, grant an extension of up to 180 days, which would run through January 13, 2025.
What actions is the Company taking now?
The Company is working to complete and file the overdue reports as soon as possible and plans to present a comprehensive compliance plan to Nasdaq if required. It has already filed a Form 12b-25 to note the delay.
What does Aeries Technology do?
Aeries Technology (NASDAQ: AERT) provides professional services and technology consulting, with capabilities in Technology Services, Business Process Management, and Digital Transformation. The Company employs over 1,700 professionals and has earned the Great Place to Work Certification.
