Hanger announced it has received a notice from the New York Stock Exchange that the company is not in compliance with the exchange’s continued listing requirements.
The notice is a result of Hanger’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2014, an action that does not follow timely filing criteria outlined in Section 802.01E of the New York Stock Exchange (NYSE) Listed Company Manual.
Hanger also is still working to complete and file its Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2014, as well as to prepare restated financial statements and amended periodic reports for certain other prior periods, according to a company press release.
The new NYSE deadline for Hanger to file its Form 10-K with the Securities Exchange Commission is Sept. 17, 2015. If the company fails to file the form prior to the compliance deadline, the NYSE may grant an extension of up to 6 additional months for the company to regain compliance, depending on the specific circumstances. However, the NYSE may commence delisting proceedings at any time if it deems that the circumstances warrant, according to the release.
“The company can, and intends to, regain compliance with the NYSE listing standards prior to such date by filing the Form 10-K with the SEC,” the release stated.
The NYSE notice has no immediate effect on the listing of Hanger’s common stock, which continues to be listed on the NYSE under the symbol “HGR.”