FedNat Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
SUNRISE, Fla., April 01, 2022 (GLOBE NEWSWIRE) -- FedNat Holding Company (NASDAQ:FNHC), a regional insurance holding company, today announced that on April 1, 2022, it received a letter (the Letter) from the Listing Qualifications Department of the Nasdaq Stock Market (Nasdaq) notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Annual Report on Form 10-K for the year ended December 31, 2021.
The Letter has no immediate effect on the listing or trading of FedNat's common stock on the Nasdaq Capital Market. The Letter states that the Company is required to submit a plan to regain compliance by May 31, 2022. The Company has advised Nasdaq that it expects to comply with this requirement by filing its 2021 Form 10-K well in advance of the May 31, 2022 deadline.
About the Company
FedNat Holding Company is an insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries and contractual relationships with independent agents and general agents. The Company, through its wholly owned subsidiaries FedNat Insurance Company and Monarch National Insurance Company, is focused on providing homeowners insurance in Florida. More information is available at https://www.fednat.com/investor-relations/.
Contacts Michael H. Braun, CEO (954) 308-1322 Ronald Jordan, CFO (954) 308-1363 Bernard Kilkelly, Investor Relations (954) 308-1409, or [email protected]
