Iris Acquisition Corp: Nasdaq/NYSE listing notice — Iris Acquisition Corp director resigns, triggering Nasdaq audit committee non-compliance

Iris Acquisition Corp

Dr. Shahibhushan Borade resigned from the board effective April 26, 2023, with no dispute regarding operations or policies.
Resignation caused the audit committee to fall below the required three independent directors, violating Nasdaq Rule 5605(c)(2)(A).
Company notified Nasdaq on May 2, 2023, and intends to cure the deficiency within the applicable cure period.

item 3.01 item 5.02

Executive movements

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Departed

Dr. Shahibhushan Borade

Director

Iris Acquisition Corp

Effective: 2023-04-26
Filed: May 2, 2023, 7:59 PM ET

On April 26, 2023, Dr. Borade, an Audit Committee member, notified the Company of his intent to resign as a member of the Board effective April 26, 2023.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.7

Iris Acquisition Corp received a nasdaq deficiency notice notice regarding other.

Exchange: nasdaq
Notice: deficiency notice

Exact text from the filing

May 2, 2023, Iris Acquition Corp (the “Company”) notified the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) that as a result of the resignation of Shahibhushan Borade (“Dr. Borade”) from the Company’s board of directors (the “Board”) (as described below in

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Executive change SEC 8-K Item 5.02 confidence 0.95

Dr. Shahibhushan Borade resigned as Director at Iris Acquisition Corp.

Action: resigned
Role: Director

Exact text from the filing

On April 26, 2023, Dr. Borade, an Audit Committee member, notified the Company of his intent to resign as a member of the Board effective April 26, 2023.

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Source: SEC EDGAR

accession 0001104659-23-055046

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