KORE Group Holdings Faces NYSE Compliance Challenge with Late 10-K Filing

KORE Group Holdings Receives NYSE Notice on Late 10-K Filing

On April 16, 2025, KORE Group Holdings, Inc. (NYSE: KORE), known for its significant contributions to Internet of Things (IoT) advancements, received a notice from the New York Stock Exchange (NYSE) indicating a compliance issue pertaining to its Annual Report on Form 10-K. This notification is a critical reminder of the importance of regulatory timelines and the complexities of financial reporting.

Background on the Notice

The notice indicated that KORE had not complied with Section 802.01E of the NYSE Listed Company Manual. The issue arose specifically due to KORE's failure to submit its Form 10-K for the fiscal year concluding on December 31, 2024, by the required deadline to the Securities and Exchange Commission (SEC).
Though this notification posed a serious concern, KORE confirmed that there would be no immediate effect on the trading status of its common stock on the NYSE. The company has a grace period of six months, beginning on April 15, 2025, to rectify the situation. KORE's management expressed confidence in their ability to meet the NYSE's compliance standards within this timeframe, but it is essential to note that if the Form 10-K is not submitted by the end of this period, the NYSE might provide a further extension of up to six additional months based on circumstances.

Commitments to Compliance

KORE has been proactive in addressing the compliance issues outlined in the notice. The delay in filing the Form 10-K was explained in an earlier Notification of Late Filing submitted via Form 12b-25 to the SEC on April 1, 2025. KORE cited the necessity for additional time and resources to complete the critical processes related to their financial reporting and closing procedures. The company is now targeting April 30, 2025, as the new deadline for filing its Form 10-K.

This turn of events serves as a crucial reminder of the rigorous standards that companies must uphold to maintain their statuses in public trading markets. Investors are understandably concerned when such notices are issued, as they may signal underlying issues with transparency and operational processes. However, KORE is working diligently to ensure compliance and restore investor confidence.

About KORE Group Holdings

KORE is recognized as a leading and pioneering force in the IoT industry. The company delivers essential IoT solutions and services that enable organizations, regardless of size, to enhance their operational efficiency and business outcomes. By simplifying the complexities associated with IoT, KORE empowers businesses to harness the capabilities of connected technology. With a wealth of experience, global reach, and customized solutions, KORE is committed to driving significant improvements in their clients' results.

For further information about KORE and its solutions, please visit their official website at korewireless.com.

Forward-Looking Statements

As is common in communications of this nature, this announcement contains forward-looking statements that may include predictions or expectations regarding future events. This includes anticipated timing for the submission of the Form 10-K and is subject to various uncertainties and risks. Stakeholders are encouraged to refer to the company's filings with the SEC, available at www.sec.gov, to understand the potential impacts of these factors.

The KORE management team remains dedicated to transparency and compliance, ensuring that all necessary measures are taken to uphold their operational integrity and to exceed market expectations moving forward.