ShiftPixy, Inc.: Nasdaq/NYSE listing notice — ShiftPixy receives Nasdaq deficiency notice for audit committee independence

ShiftPixy, Inc.

Independent director resigned from audit committee, violating Nasdaq Listing Rule 5605 requiring majority independent board and three-member audit committee with financial expertise.
Company must regain compliance by earlier of next annual shareholders' meeting or July 25, 2024.
No immediate delisting effect; non-compliance could lead to delisting subject to appeal.
Nasdaq letter received August 2, 2023; company has cure period as described.

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 0.98

ShiftPixy, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605

Exact text from the filing

August 2, 2023, ShiftPixy, Inc. (the “Company”) received a letter (the “Nasdaq Letter”) from the staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), which notifies the Company that, in view of the recent resignation of an independent director who was a member of the Company’s audit committee, the Company does not presently comply with Nasdaq’s Listing Rule 5605, which requires that a majority of the Company’s board of directors be comprised of independent directors, and that the Company has an audit committee comprised of at least three indep

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Source: SEC EDGAR

accession 0001477932-23-005729

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