NEW YORK--(BUSINESS WIRE)--
Tiptree Inc. (NASDAQ:TIPT) (the “Company”) received, as expected, a
notification from the Listing Qualifications Department of The NASDAQ
Stock Market LLC (“NASDAQ”) stating that the Company is not in
compliance with NASDAQ Listing Rule 5250(c)(1) because it has not yet
filed its Quarterly Report on Form 10-Q for the quarter ended March 31,
2017 (the “Form 10-Q”). The NASDAQ letter has no immediate effect on the
listing of Tiptree’s common stock on The NASDAQ Capital Market.
Under NASDAQ Listing Rules, the Company has until July 17, 2017 to
comply with the NASDAQ Listing Rule or to submit a plan to NASDAQ to
regain compliance. If it accepts the Company’s plan, NASDAQ can grant an
exception of up to 180 days from the Form 10-Q due date (which would be
November 6, 2017) for the Company to regain compliance. If NASDAQ does
not accept the Company’s plan, the Company will have the opportunity to
appeal that decision to a NASDAQ Hearings Panel before any delisting
occurs.
About Tiptree
Tiptree Inc. (NASDAQ: TIPT) is focused on enhancing shareholder value by
generating consistent and growing earnings at its operating companies.
The Company’s consolidated subsidiaries currently operate in the
following businesses - specialty insurance, asset management, senior
living and specialty finance. For more information about Tiptree visit www.tiptreeinc.com.
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Tiptree Inc.
Investor Relations, 212-446-1400
ir@tiptreeinc.com
Source: Tiptree Inc.