Marin Software Inc (NASDAQ:MRIN) shares are trading lower by 20.1% to 63 cents during Wednesday’s session after the company announced it received a notice from Nasdaq on April 16, indicating non-compliance with listing rules due to the delayed filing of its 2024 Annual Report, Form 10-K.
What To Know: The digital marketing software provider has until June 16, to submit a plan detailing how it will regain compliance. If Nasdaq accepts the plan, Marin could receive an extension up to September 29, to file the overdue report.
While Marin stated it intends to consider compliance plans, the company’s board has already approved a plan for voluntary liquidation and dissolution, contingent on stockholder approval.
If the dissolution proceeds, Marin’s common stock will be delisted from Nasdaq, potentially rendering the compliance efforts concerning the 10-K filing moot. The outcome hinges on an upcoming stockholder vote regarding the company’s dissolution.
Read Also: Business Growth Cools, Prices Rise, And Markets Surge On Tariff Rollback Hopes
According to data from Benzinga Pro, MRIN has a 52-week high of $3.52 and a 52-week low of $0.41.