Immersion Corporation Receives Nasdaq Staff Determination Letter; Will Seek Hearing & Continued Listing

Core Viewpoint - Immersion Corporation has received a Staff Determination Letter from Nasdaq due to non-compliance with the Filing Rule, as the company has not filed its Quarterly Reports for the fiscal quarters ended July 31, 2025, and October 31, 2025, along with the Annual Report for the fiscal year ended April 30, 2025. The company plans to request a hearing to maintain its listing status on Nasdaq [1]. Group 1: Compliance and Reporting - The Staff Determination Letter was issued on February 10, 2026, based on the company's failure to file the Delayed Reports with the SEC [1]. - Immersion Corporation had previously notified Nasdaq of late filings on multiple occasions in 2025, indicating ongoing audit committee investigations that will lead to the restatement of financial information [1]. - The company is actively working to complete the necessary filings to regain compliance with the Filing Rule [1]. Group 2: Hearing and Listing Status - The Staff Determination Letter does not result in immediate suspension or delisting of the company's securities [1]. - Immersion Corporation intends to request a hearing before a Nasdaq Hearings Panel, which will temporarily stay any suspension for 15 days from the date of the hearing request [1]. - Hearings are typically scheduled 30-45 days after the request, and the company will also seek an extended stay pending the hearing [1]. Group 3: Company Background - Immersion Corporation, incorporated in 1993 and reincorporated in Delaware in 1999, is a leading provider of haptic technology, enhancing digital interactions through touch feedback [1]. - The company acquired a controlling interest in Barnes & Noble Education on June 10, 2024, which operates bookstores and provides educational content and tools [1].