RiskOn International, Inc.: Nasdaq/NYSE listing notice — RiskOn receives Nasdaq delisting notice due to board independence shortfall

RiskOn International, Inc.

Nasdaq notified RiskOn on Jan 23, 2024 that board majority no longer independent after Milton C. Ault III appointment.
Board currently has 6 directors, only 3 of which qualify as independent, violating Rule 5605.
Company has a cure period until earlier of next annual meeting or Jan 6, 2025 (or by July 2, 2024 if meeting before that).
RiskOn intends to appoint one or more independent directors before the cure period ends.
Notice has no immediate effect on listing or trading of common stock on Nasdaq Capital Market.

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 board independence (rules 5605, 5605(b)(1)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: board independence
Rules: 5605, 5605(b)(1)(A)

Exact text from the filing

January 23, 2024, RiskOn International, Inc., a Nevada corporation (the “ Company ”), received a written notice (the “ Notice ”) from The Nasdaq Stock Market LLC (“ Nasdaq ”), indicating that, as a result of Milton C. Ault, III’s appointment to the board of directors of the Company (the “ Board ”) effective January 4, 2024, the Company currently has six (6) directors, with only three (3) of which qualify as independent directors. As such, the Company no longer complies with Nasdaq’s independent director requirement as set forth in Listing Rule 5605, which requires, among other things, a listed

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Source: SEC EDGAR

accession 0001214659-24-001241

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