November 23, 2009 (FinancialWire) — Kohlberg Capital Corp. (NASDAQ: KCAP) announced that the company received a letter on November 17, 2009 from the NASDAQ Stock Market notifying it that the company is no longer in compliance with NASDAQ Listing Rule 5250(c) (1), Obligation to File Periodic Financial Reports, because it did not timely file its Quarterly Report on form 10-Q for the quarter ended September 30, 2009 with the Securities and Exchange Commission.

As previously announced in the company’s press release dated November 9, 2009, the company has delayed the filing of its Quarterly Report on form 10-Q for the quarter ended September 30, 2009 while it is in discussions with its independent public accountants, Deloitte & Touche LLP, regarding valuation determinations under Statement of Financial Accounting Standards No. 157 — Fair Value Measurements, included in its financial statements for the fiscal year ended December 31, 2008 and for subsequent interim periods in 2009.

Under the NASDAQ Listing Rules, the company has 60 calendar days, or until January 19, 2010, to submit to NASDAQ a plan to regain compliance with NASDAQ Listing Rule 5250(c) (1). If the NASDAQ Stock Market staff accepts the plan, the NASDAQ staff can grant an exception of up to 180 calendar days from the filing’s due date, or until May 17, 2010, for the company to regain compliance. The company intends by January 19, 2010 either to file its Quarterly Report on form 10-Q for the quarter ended September 30, 2009 or to submit to NASDAQ a plan to regain compliance.

This notification has no effect on the listing of the company’s common stock at this time.

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