3D Systems has received a notice from the New York Stock Exchange (NYSE) that the company is not in compliance with the NYSE’s continued listing requirements under the timely filing criteria established in Section 802.01E of the NYSE Listed Company Manual
The company has not filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2023 with the Securities and Exchange Commission (SEC) on time.
3D Systems has been notified that it has six months from March 15, 2024 to regain compliance with the NYSE listing standards by filing the Form 10-K with the SEC, and could be granted a further six months - at NYSE's sole discretion - to regain compliance, depending on specific circumstances. Though the NYSE notice has no immediate effect on the listing of 3D Systems' common stock, the NYSE has informed 3D Systems that it 'may nevertheless commence delisting proceedings' at any time 'if it deems that the circumstances warrant.'
As previously reported in the Company’s Notification of Late Filing on Form 12b-25 filed with the SEC on February 29, 2024 (the “Form 12b-25”), 3D Systems says it was unable to file the Form 10-K within the prescribed period because 'additional time, resources and effort are required to complete work related to its financial reporting and close procedures.' Subsequent to filing the Form 12b-25, 3D Systems continued to dedicate significant resources to the completion of such procedures but was unable to file the Form 10-K by March 15, 2024, the end of the extension period provided by the Form 12b-25. The Company requires additional time to complete such procedures for the fourth quarter of fiscal year 2023.
Based on currently available information and subject to the completion of the audit procedures, 3D Systems does not expect any material change to the financial results to be included in the Form 10-K compared to the financial information reported in the earnings release the company furnished to the SEC on the Company’s Current Report on Form 8-K filed on February 28, 2024.
A 3D Systems press release read: "The Company is working diligently to complete the necessary work to file the Form 10-K as soon as practicable and currently expects to file the Form 10-K within the six-month period granted by the NYSE Notice; however, there can be no assurance that the Form 10-K will be filed within such period."
