Lead Edge Growth Opportunities Ltd filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 28, 2022 (
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On July 22, 2022, Nasdaq Listing Qualifications Department (“Nasdaq”) notified Lead Edge Growth Opportunities, Ltd (the “Company”) that the Company no longer complies with Nasdaq’s independent director requirements as set forth in Listing Rule 5605. The staff of Nasdaq (the “Staff”) determined that the Company’s non-compliance was due to the resignation of Ms. Margaret C. Whitman from the Company’s Board of Directors (the “Board”) as of July 15, 2022. The Staff determined that it is necessary and appropriate for the protection of the investors to disclose potential delisting proceedings due to non-compliance.
Pursuant to Listing Rule 5605(b)(1)(A), the Staff has provided the Company a cure period in order to regain compliance as follows: (a) until the earlier of the Company’s next annual shareholders’ meeting or July 15, 2023; or (b) if the next annual shareholders’ meeting is held before January 11, 2023, then the Company must evidence compliance no later than January 11, 2023 (the “Cure Period”). The Company must submit to Nasdaq documentation, including biographies of any new directors, evidencing compliance with the rules no later than this date. In the event the Company does not regain compliance by this date, Nasdaq rules require Staff to provide written notification to the Company that its securities will be delisted.
The Company intends to submit required documentation to Nasdaq within the Cure Period to regain compliance with the Independent Director requirements under the Nasdaq Listing Rules.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 28, 2022
| LEAD EDGE GROWTH OPPORTUNITIES, LTD | ||
| By: | /s/ Nimay Mehta | |
| Name: | Nimay Mehta | |
| Title: | Chief Financial Officer | |
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