Codere Appeals Nasdaq Delisting Over Missed Report

Codere Online is back in the spotlight after failing to meet a critical financial filing deadline. This time, the delay in submitting its full-year 2024 Form 20-F has led Nasdaq to issue a formal notice of delisting.

Good to know

• Codere is appealing the delisting and has requested a hearing to review the decision.
• The company is also seeking a temporary stay on the suspension of trading during the appeal.
• If no stay is granted, Codere’s shares could be suspended from Nasdaq on June 6, 2025.

Codere Online has not yet submitted its full-year 2024 Form 20-F to the U.S. Securities and Exchange Commission (SEC), which is a standard requirement for foreign companies listed on U.S. exchanges. In response, Nasdaq sent a notice confirming the company’s removal from the exchange.

The operator is not accepting the delisting without a fight. Codere has formally appealed Nasdaq’s decision and requested a hearing. While hearing dates usually fall within 30 to 45 days after such a request, the company is also waiting for Nasdaq to confirm whether trading of its shares will be allowed to continue during that period.

Previous issues with financial filings

Codere has faced similar problems before. Last year, the company failed to file its 2023 Form 20-F on time and received a listing extension after a hearing in February. The extension gave Codere until May 30 to submit the overdue report. It eventually filed it on May 1.

If Codere does not secure a stay, and the appeal does not go in its favor, Nasdaq plans to suspend the company’s stock trading starting June 6.

The post Codere Appeals Nasdaq Delisting Over Missed Report appeared first on iGaming.org.