Connect with us

Technology

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

Published

2 years ago

on

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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/primis-financial-corp-receives-nasdaq-notice-regarding-delayed-10-k-filing-302424962.html

SOURCE Primis Financial Corp.

Related Topics:
Continue Reading

Technology

SoftwareOne named a Leader in the 2026 Gartner® Magic Quadrant™ for SAM Managed Services

Published

26 minutes ago

on

October 26, 2026

By

Empowering clients with proven SAM excellence

MILWAUKEE, Oct. 26, 2026 /PRNewswire/ — SoftwareOne (SIX: SWON), a leading global software and cloud solutions provider, today announced that it has been named a Leader in the 2026 Gartner® Magic Quadrant™ for SAM Managed Services for the seventh consecutive year.

SoftwareOne believes this recognition reflects its commitment to helping clients achieve measurable value from their cloud, software and AI investments as licensing models continue to shift.

Software asset management (SAM) gives organizations visibility and control over their on-premises IT, cloud and SaaS estates. SoftwareOne helps customers simplify these portfolios, improving financial control and managing licensing and audit risks, so they can direct resources towards business priorities and innovation.

“Seven consecutive years as a Leader matters to us because we believe that consistency is what our customers actually buy. The technology landscape continues to grow more complex as organizations navigate an ever-expanding mix of software licensing, cloud consumption, and AI-driven business models,” says Raphael Erb, CEO, SoftwareOne. “Our customers need a partner whose judgement holds up through all of it. We see this recognition as validation of the expertise, commitment, and customer focus that our teams bring to every engagement, every day.”

Gartner delivers actionable, objective insight to executives and their teams. Its expert guidance and tools enable faster, smarter decisions and stronger performance on an organization’s mission-critical priorities.

The Gartner Magic Quadrant evaluates vendors based on their Ability to Execute and Completeness of Vision. We are honored to be included among the recognized vendors in this important report. Learn more about the Magic Quadrant.

Helping clients unlock value from IT portfolios

SoftwareOne’s ITAM and FinOps portfolio brings together software asset management, FinOps and AI optimization, SaaS management, IT sustainability advisory and vendor management. These services help clients cut waste, manage audit risks and go into publisher negotiations, with a clear picture of what technology they use and what it all costs.

With global delivery at scale, SoftwareOne helps organizations optimize and simplify AI cloud and software investments across hybrid environments. AI-enabled automation powers licensing intelligence, compliance and cost control, so clients can reduce spend and make confident decisions about where to reinvest.

Positioned alongside SoftwareOne in the Magic Quadrantii as A Leader is Anglepoint, an independent company that is majority-owned by SoftwareOne. 

About the Gartner Magic Quadrant

The Gartner Magic Quadrant evaluates providers on Completeness of Vision and Ability to Execute. Leaders execute well against their current vision and are well positioned for tomorrow. SoftwareOne views its recognition as a reflection of the consistency of its SAM managed services and the work of its delivery teams.

Source

Gartner, Magic Quadrant for Software Asset Management Managed Services, By Yolanda Harris, Jaswant Kalay, and Rob Schafer. October 2026

Gartner disclaimers and trademarks

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and are used herein with permission. All rights reserved.

About SoftwareOne

SoftwareOne is a global software and cloud solutions provider and distributor. With a presence in over 70 countries and a team of about 12,000 professionals, we combine global scale and local expertise to help partners and customers optimize costs, source, and procure, accelerate growth, and navigate complex IT environments with confidence. Leveraging deep capabilities in cloud, software, and data and AI, the company empowers organizations to modernize, innovate, and unlock the full value of their technology investments. Headquartered in Switzerland, SoftwareOne is listed on the SIX Swiss Exchange and Euronext Oslo Børs under the ticker symbol SWON. Visit us at www.softwareone.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/softwareone-named-a-leader-in-the-2026-gartner-magic-quadrant-for-sam-managed-services-302919873.html

SOURCE SoftwareONE

Continue Reading

Technology

TrueLoyal® Appoints Erica Thompson as Head of Loyalty

Published

26 minutes ago

on

October 26, 2026

By

Longtime retail and loyalty expert will lead loyalty strategy and program services for TrueLoyal’s brand partners

SAN ANTONIO, Oct. 26, 2026 /PRNewswire/ — TrueLoyal®, the loyalty and advocacy platform for consumer brands, today announced the appointment of Erica Thompson as Head of Loyalty. Thompson will lead TrueLoyal’s loyalty strategy, customer retention architecture, and lifecycle engagement work as the company continues to help brands turn consumer loyalty into a dynamic growth engine.

TrueLoyal® names longtime retail and loyalty expert Erica Thompson as Head of Loyalty.

Thompson brings more than 20 years of leadership in customer relationship management (CRM), brand loyalty, and digital marketing strategy. Throughout her career, she has led data-driven loyalty programs and omnichannel customer experiences for leading consumer brands, including serving as a retail Chief Marketing Officer and as Senior Vice President at Stride Rite. She also advised retail clients as a consultant with loyalty agency Kobie Marketing, has advised brands through her firm, ACIRE Consulting Group, and held senior marketing roles at PetSmart, New York & Company, and HSN. Her background in behavioral analytics, tiered reward structures, and customer lifecycle engagement strengthens TrueLoyal’s ability to help brands design and run programs that perform.

“Brands have to earn loyalty through compelling, continuous experiences, and points and discounts alone won’t get them there,” said Jacek Materna, CEO of TrueLoyal. “Erica’s proven ability to build scalable loyalty engines and translate customer insights into genuine brand devotion makes her the perfect leader for our next chapter.”

“I’ve spent my career on the brand side of loyalty, and the programs I’m proudest of were the ones built around what customers actually cared about,” said Thompson. “That’s the work I want to keep doing. I’m here to roll up my sleeves with our brands, understand what their customers need, and help them build loyalty that’s worth something to both sides.”

At TrueLoyal, Thompson will lead the company’s enterprise loyalty frameworks, its Program Strategy and managed loyalty services, and cross-functional alignment across product and client strategy. Her appointment reflects TrueLoyal’s continued investment in loyalty expertise as the company grows with CPG and D2C hybrid brands.

About TrueLoyal

TrueLoyal® is a loyalty and advocacy platform that helps brands turn the customer experience into repeat purchases and long-term growth. Brands use Rewards to run their loyalty program and Fan Club™ to bring community and user-generated content together, all connected to the commerce systems they already use. TrueLoyal also offers services that range from Program Strategy to fully managed loyalty operations. Learn more at trueloyal.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/trueloyal-appoints-erica-thompson-as-head-of-loyalty-302919889.html

SOURCE TrueLoyal

Continue Reading

Technology

THE POWER HOUR™ LAUNCHED FROM TIKTOK HEADQUARTERS IN NEW YORK CITY WITH A BOLD MISSION: MOVE THE WORLD FOR ONE HOUR

Published

26 minutes ago

on

October 26, 2026

By

The Power Play Impact Fund and The Power Hour™ Began a 365-Day Global Countdown to an October 2027 Guinness World Records Attempt Turning Movement Into Impact for the Next Generation

NEW YORK, Oct. 26, 2026 /PRNewswire/ — What could happen if, for one hour, the world moved together?

Recently in New York City, The Power Hour™ and Power Play Impact Fund officially launched an ambitious global movement built around a remarkably simple idea: invite people everywhere to dedicate one hour to physical movement and turn that collective action into meaningful impact for youth and communities.

The announcement was made during an exclusive gathering hosted at TikTok Headquarters in New York City on the opening day of Advertising Week New York, bringing together professional athletes, business leaders, Family Offices, health and wellness leaders, innovators, and changemakers.

October 5 was day one of a 365-day global countdown. In October 2027, The Power Hour™ will bring people across countries, communities, companies, and cultures together for 60 synchronized minutes of physical movement as part of an ambitious Guinness World Records attempt. Think walk, run, dance, yoga: move the way you want. It is being built as an inclusive global movement rather than a traditional fitness event. Participation in the global movement is FREE, removing one of the barriers to joining.

The Founder and Visionary behind The Power Hour™and Power Play Impact Fund is Angella Goran. A former professional cyclist and world-class multi-sport athlete, she has built a career spanning entrepreneurship, technology, financial innovation, sport, and social impact. Her experience as an athlete and her belief in the lifelong opportunities created through sport, wellness, and community became the foundation for The Power Hour™.

“I’ve always believed that one hour of collective action can become the starting point for something that lasts far longer,” said Goran. “When millions of people around the world move together for 60 minutes, we create more than a record. We create lasting impact for youth and communities across physical, mental, nutritional and financial wellness.”

The Power Hour™is excited to partner alongside some incredible athletes such as:

Jerome Williams, former NBA Player, founder of Shooting for PeaceAngela Ruggiero, 4x Olympic Medalist, Founder of Sports Innovation Lab & Women’s Sports Club (acquired by GENIUS in 2026)The Gasol Foundation, Founded by Pau Gasol (6x NBA All-Star, 2x NBA Championship Winner, 3x OLY and Chair of IOC Athletes’ Commission)Dr. Jen Welter (1st NFL Female Coach/Player, 2x Gold Medalist Team USA, Founder of Grrridiron Girls Foundation & “The Day in the Life Of” event series)

The vision is to harness technology, social platforms, connected fitness, and community activations to transform millions of individual actions into one extraordinary collective moment. But breaking a record isn’t the ultimate goal. Creating impact is.

At the heart of The Power Hour™ is the Power Play Impact Fund, created to help raise awareness and funding for youth and community initiatives across four interconnected areas of wellness: physical, mental, nutritional, and financial. The Power Hour™ believes that movement belongs to everyone. There is no qualifying time. No required sport. No expectation of athletic ability.

The Uptown Agency in Dallas has partnered with The Power Hour™ to provide support on communications and other projects.

Just move.
ONE WORLD. ONE HOUR. ONE MOVEMENT.
The countdown starts now.

ABOUT THE POWER HOUR™

The Power Hour™ is a global movement and social-impact initiative created to unite people through 60 minutes of physical movement. Through sport, technology, community and collective action, The Power Hour™ aims to connect individuals, athletes, businesses and communities around the world while creating meaningful impact for the next generation. The inaugural global event is planned for October 2027 and will pursue a Guinness World Records attempt through synchronized participation around the world. To learn more, please visit https://www.powerhour.world/.

ABOUT POWER PLAY IMPACT FUND

The Power Play Impact Fund is the impact engine behind The Power Hour™, supporting a mission focused on investing in and donating to youth and community initiatives for physical, mental, nutritional, and financial wellness. Through partnerships, charitable giving, fundraising, and The Power Hour™ global movement, the initiative seeks to direct attention and resources toward programs that create greater opportunity, well-being, and accessibility for youth and communities. The Power Play Impact Fund operates with LOHAS as its fiscal sponsor administrator.

ABOUT THE UPTOWN AGENCY

The Uptown Agency is an award-winning, full-service marketing and branding partner dedicated to engineering differentiation through creative excellence and data-driven strategy. Recognized as a leader in brand growth, the agency combines industry-leading expertise in brand strategy, creative development, digital marketing, web development, and PR to deliver bespoke solutions that activate audiences and drive measurable results. The Uptown Agency is a true extension of client teams, prioritizing deep business understanding over templated approaches. Their work spans strategic brand overhauls, custom-coded web experiences, and high-impact campaigns that blend cultural relevance with technical precision. Explore their work at www.theuptownagency.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-power-hour-launched-from-tiktok-headquarters-in-new-york-city-with-a-bold-mission-move-the-world-for-one-hour-302919903.html

SOURCE The Power Hour

Continue Reading

Trending