regulatory
confidence high
sentiment negative
materiality 0.60
Quadro Acquisition One Corp.: Nasdaq/NYSE listing notice — Quadro Acquisition One receives Nasdaq deficiency notice over committee composition after director resignations
Quadro Acquisition One Corp.
- Notice received Dec 27, 2023 from Nasdaq due to resignations of Clifford Tompsett and Leonid Zilber from board effective Nov 21, 2023.
- Audit Committee and Compensation Committee each now have only one member, violating Nasdaq Listing Rule 5605 (need three and two).
- Company has until Feb 12, 2024 to submit a compliance plan; Nasdaq may grant up to 180-day extension.
- Company intends to cure by appointing additional independent directors; failing plan acceptance, hearing request stays delisting.