ATOSSA THERAPEUTICS, INC. (ATOS): Nasdaq/NYSE listing notice — Atossa receives Nasdaq non-compliance notice for independent director majority rule

ATOSSA THERAPEUTICS, INC.

Received notice on June 21, 2023 for failing Nasdaq Listing Rule 5605(b)(1) requiring majority independent directors.
Non-compliance triggered by appointment of Greg Weaver as EVP/CFO; he was previously an independent director.
No immediate delisting effect; common stock continues trading on Nasdaq pending compliance process.
Company has until June 1, 2024 or next annual meeting to regain compliance; intends to adjust board composition.
If not regained, Staff may delist; Company can appeal to a Nasdaq Hearings Panel.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

ATOSSA THERAPEUTICS, INC. received a nasdaq deficiency notice notice regarding board independence (rules 5605(b)(1)).

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

Exact text from the filing

June 21, 2023, Atossa Therapeutics, Inc. (the “Company”) received formal notice from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company no longer complies with Nasdaq Listing Rule 5605(b)(1), which requires a board of directors comprised of a majority of independent directors (the “Rule”), due to the appointment of Greg Weaver, formerly an independent director, as the Company’s Executive Vice President and Chief Financial Officer. The Staff’s notice has no immediate effect on the listing of the Company’s common stock, which the

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Source: SEC EDGAR

accession 0001437749-23-018173

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