Atlantic American appeals Nasdaq delisting over missed filings

Atlantic American Corporation (Nasdaq: AAME) has requested a hearing before the Nasdaq Hearings Panel to appeal a staff determination to delist its common stock. The insurer received the determination from The Nasdaq Stock Market LLC's Listing Qualifications Department on October 16, 2026, following its failure to file required periodic reports by the extended deadline of October 12, 2026.

The delisting action was initiated because the company did not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, or its Quarterly Reports on Form 10-Q for the periods ended March 31, 2026, and June 30, 2026. These filings constitute a violation of Nasdaq Listing Rule 5250(c)(1), which mandates timely submission of all required periodic reports to the Securities and Exchange Commission. The company filed the delinquent 2025 Form 10-K with the SEC on October 16, 2026, after receiving the staff determination. Management states it is making progress toward filing the remaining delinquent reports and regaining compliance with the listing rule as promptly as practicable.

The company intends to submit a hearing request no later than October 23, 2026. Under Nasdaq rules, this request automatically stays the delisting action for 15 calendar days from the date of submission. Atlantic American also plans to request a further stay pending the completion of the hearing process. The company expects to present a detailed plan to regain compliance to the Nasdaq Hearings Panel. According to the staff determination, hearings are typically scheduled approximately 30 to 45 days after a company's request.

The company expects its common stock to continue trading on The Nasdaq Global Market during the hearing process, though it notes there is no assurance that the panel will grant such a request. The forward-looking statements regarding the company's ability to regain compliance and the outcome of the appeal involve risks and uncertainties, including the potential that the Hearings Panel will not grant an extended stay or additional extension periods. Atlantic American Corporation is an insurance holding company operating in specialty life, health, and property and casualty markets through subsidiaries such as American Southern Insurance Company and Bankers Fidelity Life Insurance Company.