Advantage Solutions Inc. (ADV): Nasdaq/NYSE listing notice — Advantage Solutions receives Nasdaq notice for Audit Committee noncompliance

Advantage Solutions Inc.

Nasdaq notified Advantage Solutions on Jan 25, 2023 of noncompliance with Listing Rule 5605(c)(2) requiring at least three independent directors on Audit Committee.
Director Ronald Blaylock ceased serving on Audit Committee on Nov 23, 2022, leaving only two independent directors.
Cure period extends until earlier of next annual stockholders' meeting or Nov 23, 2023, with possible extension to May 22, 2023.
Company intends to appoint a third independent director to regain compliance before cure period ends.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Advantage Solutions Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605(c)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605(c)(2)

Exact text from the filing

January 25, 2023, Advantage Solutions Inc. (the “Company”) received a written notification from The Nasdaq Stock Market LLC (“Nasdaq”) regarding its noncompliance with Nasdaq Listing Rule 5605(c)(2) (“Rule 5605”), which requires, among other things, that the Audit Committee (the “Audit Committee”) of the Board of Directors of the Company (the “Board”) be comprised of a minimum of three independent directors. As previously disclosed on November 23, 2022, Ronald Blaylock, one of the Company’s directors, ceased serving on the Audit Committee as of November 23, 2022, and as a result, the Company’s

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Advantage Solutions Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-001320

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