WhiteHorse Finance, Inc 8-K, filed Jan 25, 2024
WhiteHorse Finance, Inc. (WHF)
About this 8-K
WhiteHorse Finance, Inc filed this 8-K on January 25, 2024, reporting on events of January 24, 2024.
Items reported
- Item 3.01: Delisting notice or listing transfer
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
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Item 3.01 Notice of Failure to Satisfy a Continued Listing Rule or Standard.
WhiteHorse Finance, Inc. (the “Company”) is deeply saddened to announce that director Kevin F. Burke passed away on January 13, 2024 at the age of 69. Mr. Burke had been an independent director on the Board of Directors of the Company (the “Board”) since 2017 and served on the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee of the Board.
Since Mr. Burke’s death, the Board has six members, of whom three are independent directors, as that term is defined under the listing rules (the “Listing Rules”) of the Nasdaq Stock Market LLC (“Nasdaq”). On January 24, 2024, the Company received a notice (the “Notice”) from the Listing Qualifications Department of Nasdaq notifying the Company that, as a result of the death of Mr. Burke, the Company no longer complies with Nasdaq’s independent director requirement as set forth in Listing Rule 5605, which requires Nasdaq-listed companies to have a board of directors comprised of a majority of independent directors.
Consistent with Listing Rule 5605(b)(1)(A), the Notice provides that Nasdaq will provide the Company a cure period in order to regain compliance as follows (the “Cure Period”): until the earlier of the Company’s next annual shareholders’ meeting or January 16, 2025; or if the next annual shareholders’ meeting is held before July 15, 2024, then the Company must evidence compliance no later than July 15, 2024. The Company is engaged in efforts to regain compliance with the majority independent board requirement set forth in Listing Rule 5605 and plans to regain compliance within the Cure Period provided by Nasdaq.
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: January 25, 2024 | WHITEHORSE FINANCE, INC. | |
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| By: | /s/ Joyson C. Thomas |
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| Joyson C. Thomas |
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| Chief Financial Officer |