TuSimple announced that on May 5, 2023, TuSimple Holdings Inc. received a notice from The Nasdaq Stock Market LLC indicating that, as a result of the Company not having timely filed its Quarterly Report on Form 10-Q for the period ended September 30, 2022 and its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 , the Company is not in compliance with Nasdaq Listing Rule 5250 and Nasdaq has determined to deny the Company’s request for continued listing on Nasdaq. The Notice indicated that unless the Company appeals the delisting determination, which it intends to do, trading of the Company’s common stock will be suspended at the opening of business on May 15, 2023.
The Company intends to appeal the Nasdaq’s delisting determination to the Nasdaq Hearings Panel and request an extended stay of the suspension of trading of the Company’s securities until the date of such hearing. Hearings are typically scheduled to occur approximately 30 to 45 days after the date of the hearing request. However, there can be no assurance that the request for a stay or appeal before the Hearings Panel will be successful or that the Form 10-Q and Form 10-K will be filed in a timely manner or at all.
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