Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed, on January 24, 2023, Kirsten A. Green resigned from the
board of directors (the "Board") of Northern Star Investment Corp. IV (the
"Company"). Prior to her resignation, Ms. Green was an independent director and
served on all committees of the Board, including the audit committee, and was
the designated audit committee member with financial management expertise.
Prior to Ms. Green's resignation, the Board was comprised of three independent
directors and two non-independent directors. As a result of Ms. Green's
resignation, the Board is not currently comprised of a majority of independent
directors as required by Section 303A.01 of the NYSE Listed Company Manual. Also
as a result of Ms. Green's resignation, the audit committee does not have at
least three members as required by Section 303A.07(a) nor a designated member
with financial management expertise as also required by Section 303A.07(a).
As required by the NYSE Listed Company Manual, the Company submitted a written
affirmation to the NYSE as a notice of non-compliance with Sections 303A.01 and
303A.07. On February 6, 2023, the Company received an official notice of
non-compliance from the NYSE (the "NYSE Notice"). The NYSE Notice stated that
the Company will need to correct the non-compliance as promptly as practicable.
It is the intention of the Board to appoint a new independent director as soon
as practicable who is duly qualified for service on the audit committee and
other committees of the Board, and who can be the designated audit committee
member with financial management expertise. The Board is diligently engaged in a
search to identify a candidate qualified to fill the vacancy caused by Ms.
Green's resignation and in so doing regain compliance with NYSE listing
standards.
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