RiskOn International, Inc.: Nasdaq/NYSE listing notice — RiskOn receives Nasdaq third Voting Rights violation notice; delisting risk increased

RiskOn International, Inc.

Received Nasdaq Staff letter on Jan 9, 2024, citing third violation of Listing Rule 5640.
Violation relates to issuance of 603.44 Series D Preferred Shares convertible at $0.51 to Ault Alliance.
Third incidence of Voting Rights Rule breach; panel hearing on appeal set for Feb 29, 2024.
Staff says this serves as an additional basis for delisting the company's common stock.
No immediate impact on listing; trading continues on Nasdaq Capital Market pending appeal.

item 3.01 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

RiskOn International, Inc. received a nasdaq deficiency notice notice regarding other (rules 5640).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5640

Exact text from the filing

January 9, 2024, RiskOn International, Inc., a Nevada corporation (the “ Company ”) received a letter (the “ Letter ”) from the Listing Qualifications staff (the “ Staff ”) of the Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that the Staff has determined that the Company has violated Nasdaq’s voting rights rule set forth in Listing Rule 5640 (the “ Voting Rights Rule ”). The alleged violation of the Voting Rights Rule relates to the issuance of 603.44 shares of newly designated Series D Convertible Preferred Stock of the Company (the “ Preferred Stock ”) in exchange for the cance

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Source: SEC EDGAR

accession 0001214659-24-000716

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