TuSimple Receives Expected Notice from Nasdaq Related to Delayed Filing of Annual Report on Form 10-K

 TuSimple (Nasdaq: TSP) announced that TuSimple Holdings Inc. was unable to timely file its Annual Report on Form 10-K for the fiscal year

TuSimple (Nasdaq: TSP) announced that TuSimple Holdings Inc. (the “Company”) was unable to timely file its Annual Report on Form 10-K for the fiscal year ended December 30, 2022 (the “Form 10-K”) by the prescribed due date because the Company requires additional time to identify and select new principal accountants who will complete the review and audit of the Company’s financial statements. Based on an extension previously received from Nasdaq described below, the Company currently has until May 15, 2023 to file its Form 10-Q for the quarter ended September 30, 2022. As described below, Nasdaq may grant an extension for the Company to file the Form 10-K also by May 15, 2023.

On March 3, 2023, the Company received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of not having timely filed the Form 10-K with the SEC, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission (the “SEC”).

The Notice indicated that the Company may submit an update to its existing plan to regain compliance with the Listing Rule no later than March 20, 2023 and, following receipt of such update, Nasdaq may grant an extension of 180 calendar days from the due date of the Form 10-Q for the quarter ended September 30, 2022 (the initial delinquent filing, for which the Company submitted the plan to regain compliance and Nasdaq granted an extension of 180 calendar days), or until May 15, 2023, for the Company to file the Form 10-K.

The Audit Committee of the Board of Directors of the Company is working diligently to identify and select new principal accountants. While the Company can provide no assurances as to timing, upon retaining a new registered accounting firm, the Company plans to file the Form 10-K as soon as practicably possible to regain compliance with the Listing Rule.

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