Beeline Holdings, Inc. (BLNE): Nasdaq/NYSE listing notice — Eastside Distilling gets Nasdaq deficiency notice for board independence after director resignation

Beeline Holdings, Inc.

Resignation of director Elizabeth Levy-Navarro triggered non-compliance with Nasdaq Rule 5605 requiring majority independent directors.
Cure period until next annual meeting or Jan 22, 2025; if annual meeting before July 22, 2024, compliance due July 22, 2024.
Management will take commercially reasonable steps to appoint an independent director to fill vacancy.
If compliance not achieved within cure period, Nasdaq may delist common stock; company can appeal to 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

Beeline Holdings, Inc. received a nasdaq deficiency notice notice regarding board independence (rules 5605).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: board independence
Rules: 5605

Exact text from the filing

March 7, 2024, Eastside Distilling, Inc. received a deficiency letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying Eastside Distilling that, due to the resignation of Elizabeth Levy-Navarro from Eastside Distilling’s Board of Directors, Eastside Distilling no longer complies with Nasdaq Listing Rule 5605, which requires that a listed company have a majority of independent directors on its Board of Directors and have an audit committee consisting of at least three independent directors. The notification has no immediate effect on Easts

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Beeline Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009510

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