Fresh Vine Wine, Inc. Receives NYSE American Notice Stating That The Company Was Not In Compliance With The Continued Listing Standards As Set Forth In Section 803B (2)
Portfolio Pulse from Happy Mohamed
Fresh Vine Wine Inc. (NYSE:VINE) received a notice from the NYSE American stating that the company was not in compliance with the continued listing standards due to the composition of its audit committee. The issue arose after the appointment of Michael Pruitt as Interim CEO, which led to his cessation as a member of the audit committee. The company resolved the issue by appointing David Yacullo to the audit committee, and has regained compliance with the NYSE American's audit committee composition requirements.
July 31, 2023 | 9:43 pm
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Fresh Vine Wine Inc. (VINE) was temporarily non-compliant with NYSE American's listing standards due to audit committee composition. The issue was resolved quickly and the company is now in compliance.
The company was temporarily non-compliant with NYSE American's listing standards due to the composition of its audit committee. However, the issue was resolved quickly by appointing a new member to the committee. This event may have caused some temporary uncertainty among investors, but the quick resolution and the fact that the company's stock continues to trade on the NYSE American under the symbol 'VINE' should mitigate any potential negative impact.
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IMPORTANCE 70
RELEVANCE 100