MARKETWISE, INC. (MKTW): Nasdaq/NYSE listing notice — MarketWise resolves Nasdaq audit committee deficiency; appoints Tongue

MARKETWISE, INC.

Received Nasdaq notice on May 9 due to audit committee composition after Borges resignation.
Cure period set to Oct 30, 2023; company expects compliance by May 12 via Tongue appointment.
Glenn Tongue appointed to Board on May 1; joined Audit Committee on May 12, 2023.
Board confirmed Tongue qualifies as independent and financially literate per Nasdaq rules.
Notice had no immediate effect on listing of MKTW common stock on Nasdaq Global Select.

item 3.01 item 5.02

Executive movements

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Appointed

Glenn Tongue

Director

MKTW · MARKETWISE, INC.

Effective: 2023-05-01
Filed: May 12, 2023, 7:59 PM ET

on May 1, 2023, the Company appointed Mr. Tongue as a member of the Board, effective immediately.

Departed

Manuel Borges

Director

MKTW · MARKETWISE, INC.

Effective: 2023-05-01
Successor: Glenn Tongue
Filed: May 12, 2023, 7:59 PM ET

In connection with Mr. Tongue’s appointment as a member of the Board, Mr. Manuel Borges resigned as a director of the Company.

Key facts

Extracted from this filing and checked against the source text.

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

MARKETWISE, 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

May 9, 2023, MarketWise, Inc. (the “Company”) received a notice (the “Notice”) from the Nasdaq Listing Qualifications department (“Nasdaq”). The Notice indicated that, due to the resignation of Mr. Manuel Borges from the audit committee (the “Audit Committee”) of the board of directors (the “Board”) of the Company (in connection with his resignation from the Board), the Company no longer complies with Nasdaq’s audit committee requirements as set forth in Listing Rule 5605. Listing Rule 5605 requires, among other things, that the Audit Committee be comprised of a minimum of three independent di

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Glenn Tongue was appointed as Director at MARKETWISE, INC..

Action: appointed
Role: Director

Exact text from the filing

on May 1, 2023, the Company appointed Mr. Tongue as a member of the Board, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Manuel Borges resigned as Director at MARKETWISE, INC..

Action: resigned
Role: Director

Exact text from the filing

In connection with Mr. Tongue’s appointment as a member of the Board, Mr. Manuel Borges resigned as a director of the Company.

View on SEC.gov

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MARKETWISE, INC. filing history →

Source: SEC EDGAR

accession 0001628280-23-017935

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