AUSTIN, Texas, Dec. 01, 2024 (GLOBE NEWSWIRE) -- Mondee Holdings, Inc. (Nasdaq: MOND) announced today that the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC issuing a Staff determination on November 27, 2024 after the Company informed the Staff that it would not contest a delisting of its Common Stock.
The Staff Determination noted that based on their review and the Form 8-K filed on November 26, 2024, they have decided to delist the Company's securities from The Nasdaq Stock Market. The Form 8-K stated that on November 25, 2024, the Company's Board of Directors determined not to submit a plan to regain compliance with NASDAQ rules and does not plan to appeal NASDAQ's subsequent delisting of its Common Stock. This decision was in response to Nasdaq's notice regarding non-compliance with filing requirements because it had not filed its Form 10-Q for September 30, 2024.
Accordingly, trading of the Company's common stock will be suspended at the opening of business on December 6, 2024 and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove the Company's securities from listing and registration.
This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.
The delisting does not impact Mondee's business operations as they continue supporting their customers and partners.
About Mondee Holdings, Inc. and Subsidiaries
Established in 2011 and headquartered in Austin, Texas, Mondee is a leading travel marketplace and AI technology company operating globally across multiple countries including Canada, Brazil, Mexico, India, and Greece. Their platform processes over fifty million daily searches annually through both an app and web interface. Mondee Marketplace includes access to Abhi—an integrated AI travel planning assistant—and connects approximately sixty-five thousand travel experts worldwide along with numerous airlines and hotels.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995...
Management believes these forward-looking statements are reasonable when made but cautions they are subject to risks beyond control affecting actual results compared against expectations outlined herein or implied by such statements including ability implementing business plans effectively amidst legal proceedings or maintaining relationships necessary for growth while meeting listing standards among other factors detailed further within company's SEC filings available publicly without obligation updating any predictions shared presently unless legally required doing so thereafter upon changes occurring unforeseen otherwise anticipated initially beforehand despite uncertainties existing inherently therein always potentially affecting outcomes ultimately realized eventually instead possibly instead alternatively depending circumstances evolving dynamically continuously unpredictably accordingly indefinitely until resolved conclusively definitively satisfactorily altogether finally 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