Item 3.01. Notice of Delisting or Failure to Satisfy a Confirmed Listing Rule or
Standard; Transfer of Listing.
On March 14, 2022, VPC Impact Acquisition Holdings II, an exempted company
incorporated in the Cayman Islands with limited liability ("VIH") received a
letter from The Nasdaq Capital Market LLC ("NASDAQ"), stating that VIH no longer
complies with NASDAQ's independent director, audit and compensation committee
requirements as set forth in NASDAQ Listing Rule 5605. Rule 5605 requires, in
part, that listed companies have a majority independent board of directors, an
audit committee consisting of at least three independent directors and a
compensation committee consisting of at least two independent directors. The
non-compliance resulted from the resignation of Ms. Adrienne Harris from the VIH
board, audit and compensation committees, as disclosed in the Form 8-K filed by
VIH on September 7, 2021.
Consistent with Listing Rules 5605(b)(1)(A) and 5605(c)(4), NASDAQ is providing
VIH with a cure period in order to regain compliance until the earlier of VIH's
next annual shareholders' meeting or September 7, 2022. VIH expects to fill the
vacancy on its board, as well as the audit and compensation committees prior to
the expiration of the noted cure period, which would result in VIH regaining
compliance with Rule 5605.]
Receipt of the letter described above from NASDAQ has no immediate effect on the
listing of VIH's ordinary shares. This Current Report on Form 8-K is filed to
satisfy the obligation under NASDAQ Listing Rule 5810(b) and Item 3.01(a) of
Form 8-K that VIH publicly disclose the deficiency within four (4) business days
after the date of the deficiency letter.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
VPC IMPACT ACQUISITION HOLDINGS II 
