SAN FRANCISCO – Tempo Automation has received a letter from Nasdaq's Listing Qualifications Department notifying the company that it no longer meets the requirements for continued listing on the Nasdaq Global Market because it has not filed a quarterly financial report for the period ended June 30.

The letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the company’s securities.

In accordance with Nasdaq Listing Rule 5810(c)(2)(F), Tempo will have 60 calendar days, or until Oct. 16, to submit a plan to regain compliance with the Periodic Filing Rule, and if Nasdaq accepts the plan, Nasdaq can grant an exception of up to 180 calendar days from the filing’s due date, or until Feb. 12, 2024, to regain compliance.

Tempo said it intends to consider available options to regain compliance with the Periodic Filing Rule, but there can be no assurance that it will be able to submit the plan by the plan date, or if it does, that Nasdaq will accept the plan or that execution of the plan will result in the company successfully regaining compliance with the Periodic Filing Rule by the compliance date.

If Tempo does not submit the plan or regain compliance by either deadline, the company will receive a written notification that its securities are subject to delisting. At that time, the company may appeal the delisting determination to a Hearings Panel.

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