Atlantic Coastal Acquisition Corp.: Nasdaq/NYSE listing notice — Atlantic Coastal regains Nasdaq compliance after director resignations and committee appointments

Atlantic Coastal Acquisition Corp.

Received Nasdaq notice on April 3, 2023 for non-compliance due to director resignation.
Director Anthony D. Eisenberg resigned on April 4, 2023 to restore majority independent board.
Appointed Joanna Lord to Compensation Committee; Iqbaljit Kahlon named chair of both Audit and Compensation.
Reassigned Joanna Lord from Class II to Class III to fix board class imbalance.
Company believes it has remedied all deficiencies with respect to Nasdaq listing rules.

item 3.01 item 5.02 item 8.01

Executive movements

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Departed

Anthony D. Eisenberg

Director

Atlantic Coastal Acquisition Corp.

Effective: 2023-04-04
Filed: April 5, 2023, 7:59 PM ET

On April 4, 2023, Anthony D. Eisenberg resigned from the Board.

Key facts

Extracted from this filing and checked against the source text.

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

Atlantic Coastal Acquisition Corp. received a nasdaq deficiency notice notice regarding audit committee (rules 5605, 5605(b)(1)(A), 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605, 5605(b)(1)(A), 5605(c)(4)

Exact text from the filing

April 3, 2023, the Company received notice (“Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that, as a result of Mr. Tapiero’s resignation, the Company was not in compliance with Nasdaq’s listing rules (the “Listing Rules”) as set forth in Listing Rule 5605 given the Company’s failure to adhere to the independent director, audit, and compensation committee requirements. Consistent with Listing Rules 5605(b)(1)(A) and 5605(c)(4), the Company has until the earlier of the Company’s next annual shareholders’ meeting or March 21, 2024 to regain compliance. However, if th

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Executive change SEC 8-K Item 5.02 confidence 0.95

Anthony D. Eisenberg resigned as Director at Atlantic Coastal Acquisition Corp..

Action: resigned
Role: Director

Exact text from the filing

On April 4, 2023, Anthony D. Eisenberg resigned from the Board.

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Source: SEC EDGAR

accession 0001104659-23-041817

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