Nasdaq to delist Fenix Parts

WESTCHESTER - Nasdaq has informed Fenix Parts, a recycler and reseller of original equipment manufacturer automotive products, that it will be delisted from the Nasdaq Stock Market at the opening of business Thursday

The action was taken because the company received a notification letter from the Nasdaq Hearings Department stating that, due to the Company's noncompliance with Nasdaq Listing Rule requiring timely filing all required periodic financial reports.

A Nasdaq Hearings Panel recently granted Fenix's request for an extension to file its 2016 Form 10-K and its report for the first quarter of 2017. The company's continued listing on the Nasdaq was conditioned on, among other things, filing the forms with the Securities and Exchange Commission by July 21. In addition, the panel required Fenix to file its second quarter 2017 report on Form 10-Q for the period ended June 30, 2017 on or before its normal due date of August 14. Fenix said it was unable to satisfy the terms of the panel's conditional listing.

Company officials said they are actively engaged with its independent auditors to complete its annual audit and quarterly review so that the forms may be filed with the SEC as soon as possible.