Codere Online is trying to stay listed on Nasdaq after missing a key deadline. The company didn’t file its 2024 Form 20-F in time, sparking a delisting warning. The term “Codere Online delisting” now takes center stage as the firm scrambles to resolve the issue.

  • On May 16, 2025, Nasdaq notified Codere Online that it plans to delist the company’s securities. The reason is the company’s failure to file its 2024 Form 20-F as required under Listing Rule 5250(c)(1). The filing was delayed due to a late audit caused by a change in external auditors at the end of 2024.

  • Codere Online submitted its 2023 Form 20-F on May 1, 2025, but still hasn’t completed the 2024 version. The company says the delay stems from finalizing financial statements with its new accounting firm. It insists it’s working hard to complete the overdue report.

  • The Nasdaq letter gives Codere the right to appeal, and the company has done just that. It asked for a hearing and also requested that any trading suspension be paused while the hearing process continues. Under Nasdaq rules, this request puts a 15-day automatic stay in place and could lead to a longer pause.

  • Codere also submitted documents explaining why the trading stay should last through the hearing period. Nasdaq has not yet ruled on whether it will grant this extended stay. Hearings typically happen 30 to 45 days after the request is submitted.

  • The company says it aims to file its 2024 Form 20-F by May 30, 2025. If it meets this date, it hopes to fix its compliance issue before the hearing. Codere Online delisting will proceed only if it fails to meet compliance or doesn’t win an extension from Nasdaq.

  • If the hearing panel denies an extension and Nasdaq rejects the stay, trading will stop on June 6, 2025. After that, Nasdaq will file a Form 25 NSE with the SEC. This would officially remove Codere Online’s securities from the Nasdaq exchange.

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