PHILADELPHIA, PA — Republic First Bancorp, Inc., the holding company for Republic First Bank d/b/a Republic Bank, announced that on March 17, 2023, following the filing of the Company’s Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2022, the Company received formal notice from The Nasdaq Stock Market LLC confirming that the Company had regained compliance with the filing requirement set forth in Nasdaq Listing Rule 5250(c)(1) by filing the Form 10-K for the fiscal year ended December 31, 2021, and the Forms 10-Q for the periods ended March 31, June 30, and September 30, 2022, with the Securities and Exchange Commission.
Nasdaq advised the Company that the Nasdaq Hearings Panel would retain jurisdiction over the listing matter until the Company demonstrates compliance with all applicable criteria for continued listing on The Nasdaq Global Market, including the annual shareholder meeting requirement under Nasdaq Listing Rule 5620(a).
Thereafter, on March 23, 2023, Nasdaq notified the Company that because the Company’s Form 10-K for the fiscal year ended December 31, 2022, was not timely filed with the SEC, the Company did not satisfy the Filing Requirement and that the Panel would consider the additional deficiency in its deliberations regarding the Company’s continued listing.
The Company was provided with the opportunity to present its plan to file the 2022 Form 10-K with the SEC and thereby evidence compliance with the Filing Requirement for the Panel’s review by no later than March 30, 2023. At present, the Company expects to complete and file the 2022 Form 10-K with the SEC by May 1, 2023.
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