Thorne Healthtech, Inc.: Nasdaq/NYSE listing notice — Thorne HealthTech receives Nasdaq non-compliance notice for audit committee composition

Thorne Healthtech, Inc.

Nasdaq notified Thorne on June 6, 2023 of non-compliance with Listing Rule 5605(c)(2)(A) requiring three independent audit committee members.
Audit Committee has two independent directors after CFO Saloni Varma resigned from the committee effective April 1, 2023.
Cure period runs until September 28, 2023; company plans to appoint an additional independent director.
Notice has no immediate effect on THRN common stock listing or trading on Nasdaq Global Select Market.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 1.0

Thorne Healthtech, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605(c)(2)(A), 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605(c)(2)(A), 5605(c)(4)

Exact text from the filing

June 6, 2023, Thorne HealthTech, Inc. (the "Company") received notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was no longer in compliance with Nasdaq Listing Rule 5605(c)(2)(A) (the "Listing Rule"), which requires the Audit Committee (the "Audit Committee") of the Board of Directors (the "Board") of the Company to be composed of at least three members, each of whom must meet independence requirements under the Nasdaq Listing Rules and the Securities Exchange Act of 1934, as amended. As previously reported, effective April 1, 2023, Ms. Saloni S. Va

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Source: SEC EDGAR

accession 0000950170-23-027694

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