Leafly Holdings, Inc. /DE: Nasdaq/NYSE listing notice — Leafly non-compliant with Nasdaq audit committee rule after director resignation

Leafly Holdings, Inc. /DE

Cassandra Chandler resigned from Board effective Dec. 31, 2023, reducing Audit Committee to two members.
Audit Committee now has only two independent members, violating Nasdaq Listing Rule 5605(c)(2)(A).
Nasdaq granted cure period: until next annual meeting or Jan. 2, 2025 (or July 1, 2024 if meeting before July 1, 2024).
Common stock (LFLY) and warrants (LFLYW) continue trading; delisting risk if compliance not regained.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Leafly Holdings, Inc. /DE 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

January 3, 2024, the Company received a letter (the "Notice") from Nasdaq's Listing Qualifications Staff ("Staff") confirming that, as a result of Ms. Chandler's resignation, the Company is no longer in compliance with the Audit Committee Rule. The Notice also indicates that, consistent with Nasdaq Listing Rule 5605(c)(4), Nasdaq is providing the Company a cure period to regain compliance as follows: (i) until the earlier of the Company's next annual meeting of stockholders or January 2, 2025; or (ii) if the next annual meeting of stockholders is held before July 1, 2024, then the Company must

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Source: SEC EDGAR

accession 0000950170-24-002481

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