Urban One, Inc. Faces Additional Nasdaq Delisting Determination Following Quarterly Report Submissions

Urban One, Inc., an urban-centric multimedia company situated in Silver Spring, Maryland, finds itself amidst a challenging situation with the Nasdaq Stock Market. The company, holding stock tickers UONE and UONEK, disclosed a recent development indicating another step towards potential delisting. The announcement followed their filing of quarterly reports for the quarters ending March 31, 2023, and June 30, 2023.

Understanding the Nasdaq Notification

The additional notification of non-compliance, referred to as the Additional Staff Delisting Determination, was issued by Nasdaq's Listing Qualifications Department. This administrative step is an indicator that the company did not meet the continued listing requirements. Urban One, however, has the right to appeal the decision, which would postpone any delisting action until a hearing occurs and a determination is made. The potential consequences for investors and stakeholders could be significant if the appeal does not go in the company's favor.

Impact on Urban One and Shareholders

Despite the setback with Nasdaq, Urban One, Inc. continues to operate its multifaceted business, offering various services in media and entertainment tailored to urban audiences. The ramifications of delisting include reduced liquidity and visibility in the market. Nevertheless, the company remains focused on rectifying the situation and continues to communicate with its shareholders and the investment community regarding these developments.

UrbanOne, Nasdaq, Delisting