Cambium Networks receives deficiency notice from Nasdaq

Rhea-AI Summary

Cambium Networks (NASDAQ: CMBM) has received a second deficiency notice from Nasdaq on April 16, 2025, due to failing to file its Form 10-K for the year ended December 31, 2024. This follows an initial deficiency notice from April 10, 2024, regarding non-compliance with the $1.00 per share minimum bid price requirement.

The company has been given 60 calendar days to either file the Form 10-K or submit a compliance plan to Nasdaq. If Nasdaq accepts the plan, Cambium could receive up to 180 calendar days (until October 13, 2025) to regain compliance. If Nasdaq rejects the plan, Cambium can appeal to a Nasdaq Hearings Panel.

Positive

• None.

Negative

• Received second Nasdaq deficiency notice for failing to file 2024 Form 10-K
• Non-compliance with $1.00 minimum bid price requirement
• Risk of potential Nasdaq delisting if compliance is not achieved

HOFFMAN ESTATES, Ill., April 21, 2025 /PRNewswire/ -- Cambium Networks (NASDAQ: CMBM), a leading global provider of networking solutions, announced today that on April 16, 2025, it received an additional delinquency letter (the "second deficiency notice") from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it continues to be out of compliance with Nasdaq's continued listing requirements set forth in Nasdaq Listing Rule 5250(c)(1) due to the Company's failure to timely file its Form 10-K for the year ended December 31, 2024 (the "Form 10-K").  This second deficiency notice follows the notice of delinquency received from Nasdaq on April 10, 2024, notifying the Company that it has failed to meet the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the "initial deficiency notice").

In the second delinquency notice Nasdaq provided the Company with 60 calendar days from the date of the second deficiency notice to file the Form 10-K or to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule 5250(c)(1). If the Company submits a plan to Nasdaq and Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar days from the due date of the filing of Form 10-K, or until October 13, 2025, to regain compliance. If Nasdaq does not accept our plan, we would have the opportunity to appeal that decision to a Nasdaq Hearings Panel.

The Company intends to resolve the deficiency and regain compliance with the listing requirement.

About Cambium Networks

Cambium Networks enables service providers, enterprises, industrial organizations, and governments to deliver exceptional digital experiences, and device connectivity, with compelling economics. Our ONE Network platform simplifies management of Cambium Networks' wired and wireless broadband and network edge technologies. Our customers can focus more resources on managing their business rather than the network. We make connectivity that just works.

Contacts: 
Investor Relations
Cambium Networks
investors@Cambiumnetworks.com

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SOURCE Cambium Networks

FAQ

What are the two Nasdaq deficiency notices CMBM received in 2024-2025?

CMBM received notices for failing to meet the $1.00 minimum bid price requirement (April 2024) and for not filing its 2024 Form 10-K on time (April 2025).

How long does Cambium Networks (CMBM) have to file its 2024 Form 10-K?

CMBM has 60 calendar days from April 16, 2025, to file the Form 10-K or submit a compliance plan to Nasdaq.

What happens if Nasdaq accepts CMBM's compliance plan?

If Nasdaq accepts the plan, CMBM could receive up to 180 calendar days, until October 13, 2025, to regain compliance.

What options does CMBM have if Nasdaq rejects their compliance plan?

If Nasdaq rejects the plan, CMBM can appeal the decision to a Nasdaq Hearings Panel.