TAMPA, Florida, May 28, 2021 / PRNewswire / – Lazydays Holdings, Inc. (NasdaqCM: LAZY) today announced that it received a notice from the Nasdaq Stock Market on May 25, 2021 advising the company that, due to its inability to timely file its quarterly report on Form 10-Q for the period ended March 31, 2021 (the “2021 10-Q”) with the Securities and Exchange Commission, the Company is no longer in compliance with the periodic filing requirements for maintenance of listing set out in the Nasdaq Listing Rule 5250 (c) (1).
This Notice received has no immediate effect on the listing or trading of the Company’s shares. As previously stated on the company’s Form 8-K filed on May 24, 2021, following the April 12, 2021 public statement by Securities and Exchange Commission staff entitled “Staff statement on accounting and reporting considerations for warrants issued by special purpose acquisition companies”, the company’s audit committee, after consultation with the company’s management, concluded that the company should have presented a subset of the company’s warrants as liabilities rather than equity. Therefore, the audit committee also concluded that the (i) audited financial statements of the company for the years ending December 31, 2018, 2019 and 2020; and (ii) the unaudited interim financial statements at the date and for the periods ended March 31, 2018, June 30, 2018, September 30, 2018, March 31, 2019, June 30, 2019, September 30, 2019, March 31, 2020, June 30, 2020 and September 30, 2020 should no longer be summoned. Nasdaq has provided the company with until July 26, 2021 to submit a plan to return to compliance. The compliance plan should provide a summary of the reasons that led to the late filing of the company. If the Nasdaq accepts the company’s plan, then the Nasdaq may grant the company until November 15, 2021 to regain compliance. If the Nasdaq does not accept the plan, the Company will have the option of appealing this decision to a Nasdaq hearing panel.
The company plans and intends to file the required Form 10-Q and amended Forms 10-K and 10-Q within the 60-day deadline, but plans to submit the compliance plan to Nasdaq by July 26. 2021.
This announcement is made in order to comply with Nasdaq Listing Rule 5810 (b), which requires prompt disclosure of receipt of an anomaly notification.
ABOUT LAZYDAYS RV
As an iconic brand in the RV industry, Lazydays, The RV Authority, consistently delivers the best RV sales, service and ownership experience, which is why RVs and their families become customers for life. Lazydays continues to add Pitches at a rapid pace as it executes its geographic expansion strategy which includes both acquisitions and new creations.
Since 1976, Lazydays RV has built a reputation for providing an exceptional customer experience with exceptional service and unmatched product expertise, in addition to being a privileged place to rest and recharge with other RVs. By offering the largest selection of RV brands from the nation’s leading manufacturers, state-of-the-art service facilities, and thousands of hard-to-find accessories and parts, Lazydays RV provides everything RV enthusiasts need. need and want.
Lazydays Holdings, Inc. is a company listed on the Nasdaq Stock Market under the symbol “LAZY”.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the protective regimes created by these laws. All statements other than statements of historical fact are, or may be considered, forward-looking statements. Forward-looking statements describe Lazydays ‘future plans and expectations, including statements regarding Lazydays’ expectations regarding the filing of its Form 10-Q and amended Forms 10-K and 10-Q and its plan to submit a compliance plan. Nasdaq Compliance, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Lazydays. Actual results could differ materially due to various factors including general economic conditions, conditions in credit markets and changes in interest rates, conditions in capital markets, global impact of l ‘coronavirus pandemic (COVID-19) outbreak, accounting treatment and guidance, and other factors described from time to time in Lazydays SEC reports and filings, available at www.sec.gov. The forward-looking statements contained in this press release speak only as of the date of this press release, and Lazydays assumes no obligation to update these forward-looking statements to reflect subsequent events or circumstances, except as otherwise provided by the law.
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SOURCE Lazydays Holdings, Inc.