Tremendous Micro Pc will get extension to file delayed annual report

(Reuters) – Tremendous Micro Pc (NASDAQ:SMCI) stated on Friday it has acquired an extension from the Nasdaq until Feb. 25 to file its delayed annual and quarterly stories, sending the AI server maker’s shares up 5% in prolonged buying and selling.

Final month, Tremendous Micro named BDO USA as its auditor and submitted a compliance plan to the inventory alternate to file its annual and quarterly stories, after its itemizing got here below risk when it didn’t file its annual report in August.

The corporate in August cited a have to assess “its inner controls over monetary reporting” for the delay, a day after Hindenburg Analysis disclosed a brief place.

Tremendous Micro stated on Friday it expects to file all its required stories by Feb. 25, to ensure that the inventory to stay listed on the Nasdaq.

The corporate’s AI servers with liquid cooling know-how have been seeing robust demand from enterprises searching for {hardware} able to powering synthetic intelligence functions.

Tremendous Micro on Monday started a seek for a brand new finance chief primarily based on suggestions made by a particular committee fashioned to look into its accounting practices.