Business Context and Reporting Period
Company: Chimera Investment Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: February 14, 2013
Subject: Notice of Delisting or Failure to Satisfy a Continued Listing Rule (Item 3.01) regarding the New York Stock Exchange (NYSE).
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on regulatory compliance and listing status.
Material Changes and Events
- Restatement Issue: The Company is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2011, due to a pending restatement of previously filed consolidated financial statements.
- Listing Extensions:
- September 2012: Granted a four-month extension until January 15, 2013.
- January 2013: Granted a one-month extension until February 15, 2013.
- February 14, 2013: Granted a final extension until March 15, 2013, to file the 2011 Form 10-K.
- Delisting Risk: The NYSE will closely monitor progress. Failure to file by March 15, 2013, or failure to make progress toward that deadline, will result in the initiation of suspension and delisting procedures.
Guidance, Outlook, and Risks
- Management Commentary: The Company states it is working diligently to complete the 2011 Form 10-K.
- Uncertainty: No assurance can be given that the 2011 Form 10-K will be filed by the March 15, 2013 deadline.
- Primary Risk: Immediate risk of suspension of listing privileges and subsequent delisting from the NYSE if the filing deadline is missed or progress is deemed insufficient.
Investor Verification Checklist
- Verify the status of the pending restatement of the 2011 consolidated financial statements.
- Monitor the Company's ability to file the 2011 Form 10-K by the March 15, 2013 deadline.
- Watch for any further communications from the NYSE regarding suspension or delisting proceedings.
- Review the attached Press Release (Exhibit 99.1) for additional details on the restatement scope.