Full Press Release Details
Procaps Group Receives Additional Delinquency
MIAMI, USA - BARRANQUILLA, COL -
January 3, 2025 - Procaps Group, S.A. (NASDAQ: PROC) ("Procaps" or the "Company"), a leading integrated
LatAm healthcare and pharmaceutical services company, today announced that, as anticipated, on December 31, 2024, the Company received
notice from The Nasdaq Stock Market LLC ("Nasdaq") of an additional filing delinquency relating to the Company's interim
financial statements for the period ended June 30, 2024.
The interim financial statements were required
to be filed with Nasdaq by December 31, 2024, but were not for the reasons previously disclosed in connection with the delay in the filing
of the Company's Form 20-F for the fiscal year ended December 31, 2023, in contravention of Nasdaq Listing Rule 5250(c)(2).
The notice indicated that the Nasdaq Hearings
Panel (the "Panel") will consider the additional filing delinquency in its deliberations regarding the Company's request
for continued listing on Nasdaq. The Company plans to timely respond to the most recent notice from Nasdaq and otherwise present its plan
to evidence full compliance with the Company's applicable filing requirements at its upcoming hearing before the Panel. This announcement
is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure by an issuer in receipt of an additional delinquency
Procaps Group, S.A. ("Procaps") (NASDAQ:
PROC) is a leading developer of pharmaceutical and nutraceutical solutions, medicines, and hospital supplies that reach more than 50 countries
in all five continents. Procaps has a direct presence in 13 countries in the Americas and nearly 5,000 employees working under a sustainable
model. Procaps develops, manufactures, and markets over-the-counter (OTC) pharmaceutical products, prescription pharmaceutical drugs (Rx),
nutritional supplements, and high-potency clinical solutions.
For more information, visit www.procapsgroup.com
or Procaps' investor relations website investor.procapsgroup.com.
investor.procapsgroup.com
Forward-Looking Statements
This press release includes "forward-looking
statements." Forward-looking statements may be identified by the use of words such as "forecast," "intend," "seek,"
"target," "anticipate," "believe," "expect," "estimate," "plan," "outlook,"
and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical
matters. Such forward-looking statements with respect to revenues, earnings, performance, strategies, synergies, prospects, forecasts
and other aspects of the businesses of Procaps are based on current expectations that are subject to risks and uncertainties. A number
of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These
factors include, but are not limited to, the risks and uncertainties indicated from time to time in documents filed or to be filed with
the Securities and Exchange Commission ("SEC") by Procaps. Accordingly, forward-looking statements, including any projections
or analysis, should not be viewed as factual and should not be relied upon as an accurate prediction of future results. The forward-looking
statements contained in this press release are based on our current expectations and beliefs concerning future developments and their
potential effects on Procaps. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our
control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied
by these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties, including
those included under the header "Risk Factors" in Procaps' annual report on Form 20-F filed with the SEC, as well as Procaps'
other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect,
actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update
or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required
under applicable securities laws. Accordingly, you should not put undue reliance on these statements.