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Primis Financial Corp. Receives Nasdaq Notice Regarding Delayed 10-K Filing

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MCLEAN, Va., April 9, 2025 /PRNewswire/ — Primis Financial Corp. (NASDAQ: FRST) (“Primis” or the “Company”) announced today that, as expected, it received a notice on April 3, 2025 (the “Notice”) from Nasdaq indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires listed companies to timely file all periodic reports with the Securities and Exchange Commission (the “SEC”), as it has failed to timely file its Form 10-K for the period ending December 31, 2024 (the “Form 10-K”), which the Company previously disclosed on Form 12b-25, as filed with the SEC on April 1, 2025, as amended. As previously disclosed, the Company is subjected to a one-year “Panel Monitor” as defined by Nasdaq Listing Rule 5815(d)(4)(B), and, as a result, the Company must request an appeal of this determination to a Hearings Panel (the “Panel”) by April 10, 2025, or the Company’s securities will be scheduled for delisting from Nasdaq and will be suspended at the opening of business on April 14, 2025. 

On April 9, 2025, the Company appealed the Staff’s determination in accordance with the procedures set forth in the Nasdaq Listing Rules, requested a hearing before the Panel, and an extension of Nasdaq’s stay of delisting (the “Hearing Request”).

The Hearing Request automatically stayed any suspension of trading for 15 calendar days from the date of the Hearing Request and the Company’s common stock will continue to trade on Nasdaq during such stay. While the determination on whether to grant the extended stay during the appeal process will be made by the Panel, the Company believes that it satisfies the standards for the granting of such an extended stay and does not anticipate that the Company’s securities will be suspended or delisted as a result of the Notice.

The Company plans to file the Form 10-K as promptly as practicable and currently expects to do so prior to the hearing, at which point the Company will be in compliance with the Listing Rules.

The Notice has no immediate effect on the listing of the Company’s common stock on the Nasdaq Global Select Market and the Company expects to regain compliance in advance of the hearing before the Panel.

About Primis Financial Corp.

As of December 31, 2024, Primis had $3.7 billion in total assets, $2.9 billion in total loans held for investment and $3.2 billion in total deposits. Primis Bank provides a range of financial services to individuals and small- and medium-sized businesses through twenty-four full-service branches in Virginia and Maryland and provides services to customers through certain online and mobile applications.

Contacts:

Address:

Dennis J. Zember, Jr., President and CEO

Primis Financial Corp.

Matthew A. Switzer, EVP and CFO

1676 International Drive, Suite 900

Phone: (703) 893-7400 

McLean, VA 22102

 

Primis Financial Corp., NASDAQ Symbol FRST
Website: www.primisbank.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act, about the Company that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “intend,” “may,” “plan,” “should,” “will,” or the negative of these words or other similar terms or expressions. Important factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, a further material delay in the Company’s financial reporting, including as a result of unanticipated factors or factors that the Company currently believes will not cause delay that could cause further delay; the possibility that the ongoing review may identify errors or control deficiencies in the Company’s accounting practices; the risk that any restatements may subject us to unanticipated costs or regulatory penalties and could cause investors to lose confidence in the accuracy and completeness of our financial statements; the likelihood that the control deficiencies that may be identified in the future will result in material weaknesses in the Company’s internal control over financial reporting; the possibility that the Company is unable to regain compliance with, or thereafter continue to comply with, the Nasdaq Listing Rules, or experience violations of additional Listing Rules; the possibility that Nasdaq may deny the Company’s appeal and delist the Company’s securities; the risk of investigations or actions by governmental authorities or regulators and the consequences thereof, including the imposition of penalties; the risk that the Company may become subject to shareowner lawsuits or claims; risks related to our ability to implement and maintain effective internal control over financial reporting and/or disclosure controls and procedures in the future, which may adversely affect the accuracy and timeliness of our financial reporting; the inherent limitations in internal control over financial reporting and disclosure controls and procedures; remediation of any potential deficiencies with respect to the Company’s internal control over financial reporting and/or disclosure controls and procedures may be complex and time-consuming; and the impact of these matters on the Company’s performance and outlook and other factors contained in the “Risk Factors” section and elsewhere in the Company’s filings with the SEC from time to time, including, but not limited to, its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. The forward-looking statements in this press release are based upon information available to the Company as of the date of this press release, and while the Company believes such information forms a reasonable basis for such statements, such information may be limited or incomplete, and its statements should not be read to indicate that the Company has conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. Except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

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SOURCE Primis Financial Corp.

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Nocpix: Always One Step Ahead in Outdoor Electro-optic Innovation with AI-Driven Thermals and Night Vision

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56 minutes ago

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April 29, 2025

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YANTAI, China, April 29, 2025 /PRNewswire/ — Hunting, one of humanity’s oldest traditions, is being transformed by modern technology. Today, innovations like thermal imaging devices, GPS trackers, smart scopes, and AI-driven vision systems are redefining how hunters track, observe, and engage with their environment. Among these innovations, thermal imaging stands out as a true game-changer. The ability to detect heat signatures, spot targets beyond the naked eye’s capabilities, and make calculated shots has revolutionized the hunting experience. In the crowded thermal market, a new brand called Nocpix is coming to US and European hunters making another option for night hunting.

Why is Nocpix Taking the Thermal Optics Market by Storm?

Amidst a competitive field of legacy brands, Nocpix has emerged as a standout name in high-definition thermal imaging. Though a relatively new entrant, they’ve quickly claimed a position at the forefront of the industry by focusing on cutting-edge thermal imaging sensor technology, intuitive ergonomics, and field-proven reliability. Their Ultra-HD thermal imaging systems are now competing head-to-head with established players in the space, combining cutting-edge sensor technology, Reality+ AI-enhanced imaging algorithms, and intuitive designs to deliver industry-leading thermal optics for hunters and outdoor professionals.

Professional Thermal Binoculars for Hunters – QUEST

Nocpix’s product line began with compact monoculars and thermal riflescopes. Today, Nocpix has launched a groundbreaking thermal imaging device — the Quest thermal imaging binoculars. Weighing just 700g, lightweight design allows effortless one-handed operation. The auto screen-off eyepiece prevents accidental light leakage, ensuring stealth during tracking. With a detection range of up to 2600m, a 1000m integrated LRF, and ballistic calculation, QUEST provides precise distance measurement and target data for accurate outdoor observation. Because of these outstanding performance, these binoculars quickly captured the attention of outdoor hunting enthusiasts.

Why Does Binocular Vision Feel More Comfortable?

The human brain is designed for binocular vision — using both eyes to create depth, clarity, and a more immersive viewing experience. Nocpix Quest inherits the intuitive operational logic of traditional binoculars and redefines the night observation experience. As stated by professional hunter Chris Parkin: “This is currently the most user-friendly and feature-rich thermal imaging device — whether day or night, it allows you to become a ‘participant’ in the environment, rather than a mere observer.”

For Further Information:

Nocpix Marketing Department
E-mail: info@nocpix.com
Website: www.nocpix.com 

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SOURCE Nocpix

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Federal Resources Corporation Joins Forces with Electrosoft as a Subcontractor on PROTECTS Cyber Support BPA

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56 minutes ago

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April 29, 2025

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FRC brings decades of experience in federal contracting and is known for delivering robust solutions to complex challenges. By joining forces with Electrosoft, we aim to enhance our capabilities in safeguarding our nation’s cyber infrastructure.

ERIE, Pa., April 29, 2025 /PRNewswire-PRWeb/ — Federal Resources Corporation (FRC) is thrilled to announce our partnership with Electrosoft as a subcontractor on the newly awarded PROTECTS Cyber Support Blanket Purchase Agreement (BPA). This collaboration underscores our commitment to providing outstanding cybersecurity solutions alongside a leading firm in the industry.

“We are honored to partner with Electrosoft on this important initiative,” said Jeremy Young, CEO at FRC. “Their focus on delivering exceptional cyber support services aligns perfectly with our mission to address evolving cybersecurity needs of our government partners.”

FRC brings decades of experience in federal contracting and is known for delivering robust solutions to complex challenges. By joining forces with Electrosoft, we aim to enhance our capabilities in safeguarding our nation’s cyber infrastructure.

“We are honored to partner with Electrosoft on this important initiative,” said Jeremy Young, CEO at FRC. “Their focus on delivering exceptional cyber support services aligns perfectly with our mission to address evolving cybersecurity needs of our government partners.”

The PROTECTS Cyber Support BPA offers an exciting opportunity for both FRC and Electrosoft to work together in delivering comprehensive cybersecurity services, including threat assessment, incident response, and system security engineering. This partnership not only strengthens FRC’s position in the cybersecurity landscape but also reflects our dedication to upholding the highest standards of security for our clients.

About Federal Resources Corporation

Federal Resources Corporation (FRC) specializes in delivering mission-critical cybersecurity solutions and secure IT solutions tailored for the U.S. Federal Government, State, Local, and Education (SLED) markets, and enterprise environments. As a leading Value-Added Reseller, and IT Services Provider, we empower our technology partners by expanding their reach and driving success through comprehensive customer success management.

About Electrosoft

Electrosoft is a premier provider of cybersecurity and IT solutions, focused on serving federal agencies and governmental organizations. With a mission to enhance the security and resilience of critical systems, Electrosoft specializes in delivering comprehensive services such as cybersecurity assessments, system engineering, and incident response support.

Founded on the principles of innovation and excellence, Electrosoft combines deep industry expertise with the latest technological advancements to tackle the evolving challenges of the digital landscape. Our team of skilled professionals is committed to empowering government partners through tailored solutions that ensure the protection of sensitive information and compliance with industry regulations.

Media Contact:

James Ford

Director of Marketing

jford@fedresources.com

814-636-8020

View original content to download multimedia:https://www.prweb.com/releases/federal-resources-corporation-joins-forces-with-electrosoft-as-a-subcontractor-on-protects-cyber-support-bpa-302439827.html

SOURCE Federal Resources Corporation

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AI as a Service Market worth $91.20 billion by 2030 – Exclusive Report by MarketsandMarkets™

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56 minutes ago

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April 29, 2025

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DELRAY BEACH, Fla., April 29, 2025 /PRNewswire/ — The AI as a Service Market is expected to significantly increase from USD 20.26 billion in 2025 to USD 91.20 billion by 2030 at a CAGR of 35.1% during the forecast period, according to a new report by MarketsandMarkets™. 

Increasing demand for cost-effective AI solutions, cloud adoption, and demand for increased business efficiency drive the AI as a Service Market. AIaaS plays a key role in helping organizations boost data analytics performance, drive automation, and create more meaningful customer engagement. Furthermore, improvements in machine learning, natural language processing, and AI frameworks contribute to the market’s growth in all segments of the industry. 

Browse in-depth TOC on ‘AI as a Service Market’

283 – Tables
60 – Figures
398 – Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121842268

Scope of the Report

Report Metric

Details

Market size available for years

2020–2030

Base year considered

2024

Forecast period

2025–2030

Forecast units

USD (Billion)

Segments Covered

Product Type, Organization Size, Business Function, Service Type, End User, and Region

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Microsoft (US), IBM (US), Google (US), AWS (US), OpenAI (US), NVIDIA (US), Salesforce (US), Oracle (US), SAP (Germany), FICO (US), Cloudera (US), ServiceNow (US), HPE (US), Altair (US), SAS Institute (US), DataRobot (US), Databricks (US), C3 AI (US), H2O.ai (US), Alibaba Cloud (China), Domo (US), Intellias (US), Mistral AI (France), Rainbird Technologies (UK), BigML (US), Yottamine Analytics (US), Scale AI (US), Landing AI (US), Synthesia (UK), Yellow.ai (US), Cohere (Canada), Anyscale (US), Abridge (US), Inflection AI (US), Glean (US), Codeium (US), Arthur (US), Levty AI (US), Unstructured.io (US), Clarifai (US), DeepSearch (Austria), Katonic AI (Australia), MindTitan (Estonia), Viso.ai (Switzerland), MonkeyLearn (US), and Softweb Solutions (US).

BFSI Enterprise End User will register the largest market share during the forecast period.

With the growing implementation of AI as a Service (AIaaS) to improve operational performance, risk management, and customer satisfaction, the BFSI sector is positioned to lead the AIaaS market. AIaaS empowers companies with advanced analytics, fraud detection, personalized services, and automation, all without significant infrastructure costs. The need for real-time insights, regulatory compliance, and security measures drives the increasing demand for AI solutions in BFSI. Furthermore, AI-driven chatbots, virtual assistants, and predictive analytics play a role in simplifying customer engagements and providing personalized financial guidance, strengthening the use of AIaaS in this sector. The industry’s continual digital evolution and emphasis on creativity position it as a critical force in the AIaaS market.

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No-Code or Low-Code ML Tools Product Typeis poised for the fastest growth rate during the forecast period.

No-code or low-code machine learning (ML) tools are expected to experience the most significant growth in the AI as a Service (AIaaS) market because they are easy to use for those with limited coding skills. These tools allow companies to create and use AI models without deep coding knowledge, thus democratizing AI applications throughout industries. They are reducing the time and the cost involved in implementing AI by a lot and making it easy for organizations of any scale to integrate AI into their workflows. Demand for rapid prototyping, customization, and automation fuels the demand for no-code/low-code platforms, which offer flexibility and scalability, enabling businesses to innovate fast and stay agile, and thus, this market is growing at an accelerated pace.

North America accounts for the largest market during the forecast period.

North America is expected to dominate the share of AI as a Service Market due to the advanced technology infrastructure and the presence of large AI providers such as IBM, Google, and Microsoft. The region benefits from the early adoption of AI in prominent industries such as healthcare, finance, and retail to automate, generate analytics, and improve customer service. Huge investments in AI research and development and profound government support for AI innovations also add to the market growth. North America’s robust cloud infrastructure and widespread digital transformation initiatives further create an ideal environment for the growth of AIaaS. The region’s focus on cutting-edge solutions and the growing demand for AI-driven insights from enterprises ensure its leadership in the AIaaS market.

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Top Key Companies in AI as a Service Market:

The major players in the AI as a Service Market include Microsoft (US), IBM (US), Google (US), AWS (US), OpenAI (US), NVIDIA (US), Salesforce (US), Oracle (US), SAP (Germany), and HPE (US).

Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting

Related Reports:

Artificial Intelligence Market – Global Forecast to 2032

Edge AI Software Market – Global Forecast to 2031

Small Language Model Market – Global Forecast to 2032

Legal AI Software Market – Global Forecast to 2030

AI in Social Media Market – Global Forecast to 2029

Get access to the latest updates on AI as a Service Companies and AI as a Service Industry

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s Best Management Consulting Firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.

Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.

The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook .

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Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
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Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
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