Aeries Technology Responds to Nasdaq Compliance Notification

Author: Olivia Taylor Updated: 09-10-2024 05:15 PM

Aeries Technology Notifies Investors of Nasdaq Compliance Issue

Aeries Technology, Inc. recently announced receipt of a deficiency notification from Nasdaq, signaling a hurdle in its quarterly reporting obligations. The Company, known for its expertise in professional services and technology consulting, received a notice from the Listing Qualifications Staff due to delays in filing key financial documents.

Details of the Notification

The notification letter from Nasdaq highlights that Aeries Technology has not complied with Nasdaq Listing Rule 5250(c)(1). This issue arose following the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ending June 30, 2024, alongside an outstanding Annual Report on Form 10-K for the fiscal year concluding March 31, 2024. The Company has acknowledged the situation through a previously filed Form 12b-25 Notification of Late Filing.

Protocol Following the Notice

Aeries Technology has until the end of September 2024 to present a plan to Nasdaq demonstrating how it intends to address the compliance issue. Upon submission of this plan, Nasdaq may provide an extension of up to 180 days, allowing Aeries until January 13, 2025, to meet the necessary compliance requirements.

Company's Commitment to Compliance

While timelines cannot be strictly defined, Aeries Technology is actively working on finalizing and submitting the overdue filings as quickly as possible. The Company is committed to setting forth a comprehensive compliance plan to Nasdaq if required, as part of its dedication to regulatory adherence and transparency.

About Aeries Technology

Aeries Technology (NASDAQ: AERT) specializes in guiding businesses through transformations. With its inception in 2012, the firm has amassed a talented team of over 1,700 professionals, offering expertise in areas such as Technology Services, Business Process Management, and Digital Transformation. The personalised engagement models and specialized services provided by Aeries are tailored to help clients enhance their operational efficiency and achieve business success. Moreover, Aeries Technology’s focus on workforce development has led to its recognition with the Great Place to Work Certification.

Frequently Asked Questions

What prompted Aeries Technology to receive a notice from Nasdaq?

The notice was issued due to the Company's failure to timely file its Quarterly Report on Form 10-Q and an Annual Report on Form 10-K.

What steps is Aeries Technology planning to take to comply with Nasdaq requirements?

The Company aims to submit a compliance plan promptly and ensure all required reports are filed as soon as feasible.

How long does Aeries Technology have to address this compliance issue?

They must submit a compliance plan by September 30, 2024, with potential for an extension until January 13, 2025.

What is the main focus of Aeries Technology?

The firm offers professional services and technology consulting aimed at helping businesses optimize and transform their operations.

How has Aeries Technology been recognized in terms of workplace culture?

Aeries Technology has earned the Great Place to Work Certification, highlighting its commitment to employee satisfaction and development.

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