Kaival Brands Innovations Group, Inc. (KAVL): Nasdaq/NYSE listing notice — Nasdaq notifies Kaival Brands of non-compliance with audit committee rule after director resignations

Kaival Brands Innovations Group, Inc.

On March 13, 2024, Nasdaq notified Kaival Brands it fails Listing Rule 5605 due to resignations of directors John Brooks and George Chuang.
David Worner is now sole independent director on audit committee; company not eligible for cure period.
Company has until April 24, 2024 to submit compliance plan; Nasdaq may grant up to 180-day extension.
No immediate effect on KAVL listing; company evaluating director candidates to regain compliance.

item 3.01 item 5.02

Key facts

Extracted from this filing and checked against the source text.

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

Kaival Brands Innovations Group, Inc. received a nasdaq deficiency notice notice regarding board independence.

Exchange: nasdaq
Notice: deficiency notice
Deficiency: board independence

Exact text from the filing

March 13, 2024, Kaival Brands Innovations Group, Inc. (the “Company,” “we” or “us”), received a letter from the Listing Qualifications Department (the “Staff”) of The NASDAQ Stock Market (“Nasdaq”) notifying the Company that, as a result of the resignation of Mr. John Brooks and Mr. George Chuang as directors of the Company (as described in

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8 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Kaival Brands Innovations Group, Inc. filing history →

Source: SEC EDGAR

accession 0001731122-24-000433

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