---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-055046"
form_type: "8-K"
ticker: null
cik: "0001831874"
company_name: "Iris Acquisition Corp"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:48:06.660904+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Iris Acquisition Corp director resigns, triggering Nasdaq audit committee non-compliance

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-055046
- form_type: 8-K
- cik: 0001831874
- company_name: Iris Acquisition Corp
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 3.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831874/000110465923055046/0001104659-23-055046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831874/000110465923055046/tm2314403d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-055046
- JSON: https://secwatch.observer/filing/0001104659-23-055046.json
- Plain text: https://secwatch.observer/filing/0001104659-23-055046.txt

## Key facts
- Listing & Compliance Notices
  Iris Acquisition Corp received a nasdaq deficiency notice notice regarding other.
  - Exchange: nasdaq
  - Notice: deficiency notice
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831874/000110465923055046/0001104659-23-055046-index.htm
- Executive change
  Dr. Shahibhushan Borade resigned as Director at Iris Acquisition Corp.
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831874/000110465923055046/0001104659-23-055046-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.