Vintage Wine Estates, Inc.: Nasdaq/NYSE listing notice — Vintage Wine Estates receives Nasdaq notice for late Q2 10-Q; expects compliance by mid-March

Vintage Wine Estates, Inc.

Received Nasdaq non-compliance notice on Feb 13, 2023 for failure to file Q2 10-Q (Dec 31, 2022); no immediate impact on listing.
Company expects to submit a plan within 60 days and regain compliance, targeting filing of 10-Q in mid-March 2023.
Late filing due to impairment indicators identified late in closing process; will also amend prior 10-Q for Sep 30, 2022.
Entered into amendment to credit agreement extending deadline to provide Q2 financial statements to 90 days after quarter end.

item 1.01 item 3.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Vintage Wine Estates, Inc. received a nasdaq noncompliance notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

February 13, 2023, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, because the Company has not filed its Quarterly Report on Form 10-Q for the period ended December 31, 2022 (the “Form 10-Q”) within the prescribed time period, the Company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1). The Nasdaq notification letter has no immediate effect on the listing or trading of the Company’s common stock on Nasdaq. While the notification letter provides

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Vintage Wine Estates, Inc. amended Second Amended and Restated Loan and Security Agreement with BMO Harris Bank, N.A. valued at Amendment extends date to furnish consolidated financial statements for fiscal quarter ended Decembe (effective 2023-02-13).

Action: amendment
Agreement: credit facility
Counterparty: BMO Harris Bank, N.A.
Value: Amendment extends date to furnish consolidated financial statements for fiscal quarter ended Decembe
Effective: 2023-02-13

Exact text from the filing

On February 13, 2023, Vintage Wine Estates, Inc. (“VWE” or the “Company”) entered into an amendment (the “Amendment”) to the Second Amended and Restated Loan and Security Agreement dated as of December 13, 2022 (the “LSA”), by and among the Company, certain subsidiaries of the Company from time to time party thereto, the financial institutions from time to time party thereto (collectively, the “Lenders”), and BMO Harris Bank, N.A., as successor in interest to Bank of the West, as administrative agent (the “Agent”).

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Source: SEC EDGAR

accession 0001193125-23-041078

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