Business Context and Reporting Period
Company: Consensus Cloud Solutions, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 27, 2023
Reporting Period: The filing addresses a specific event occurring on March 21, 2023, regarding the company's compliance status with Nasdaq listing rules.
Key Financial Metrics
This Form 8-K does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing is strictly procedural regarding listing compliance.
Material Changes
- Delisting Notice: On March 21, 2023, the company received a notice from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to a delay in filing its Annual Report on Form 10-K for the fiscal year ended December 31, 2022.
- Trading Status: The notice has no immediate effect on the listing or trading of the company's common stock on Nasdaq.
Guidance, Outlook, and Risks
- Compliance Plan: The company has 60 calendar days to submit a plan to regain compliance. If accepted, Nasdaq may grant an extension of up to 180 calendar days.
- Management Intent: Management intends to file the overdue Form 10-K on or before March 31, 2023, which is substantially prior to the deadline to submit a compliance plan.
- Risks: The filing includes a "Safe Harbor" statement noting that forward-looking statements regarding the timing of the 10-K filing are subject to risks and uncertainties that could cause actual results to differ materially.
Investor Verification Checklist
- Verify the actual filing date of the Form 10-K for the fiscal year ended December 31, 2022, to confirm if the March 31, 2023 target was met.
- Monitor Nasdaq announcements to confirm whether the company successfully regained compliance or if a formal delisting process was initiated.
- Review the attached press release (Exhibit 99.1) for any additional details on the reasons for the filing delay.