Double Eagle Acquisition Corp. (NASDAQ:EAGL) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01
(c) On April 11, 2017, Double Eagle Acquisition Corp. (the “Company”) received a Letter of Reprimand (the “Letter”) from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) relating to a period of noncompliance by the Company with NASDAQ Listing Rule 5606(c)(2) (the “Rule”), which requires the Company to have an audit committee comprised of at least three independent directors. The Letter noted that, following the Company’s initial public offering (“IPO”) in September 2015, the Company relied on NASDAQ’s rules relating to companies listing in connection with an IPO to have one member of the audit committee of the board of directors who was not an “independent” director under NASDAQ’s rules. The Letter further noted that due to an inadvertent oversight, the Company did not replace the non-independent director on the audit committee with an independent director until March 21, 2017, which exceeded the permitted one year phase-in period. The Letter further stated that, in determining to issue the Letter, the staff of the Listing Qualifications Department of NASDAQ noted that upon discovery of the noncompliance, the Company took prompt action to inform NASDAQ, cure the deficiency and comply with the Rule and that the Company has not demonstrated a pattern or practice of rule violations.
About Double Eagle Acquisition Corp. (NASDAQ:EAGL)
Double Eagle Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company is not engaged in, and will not engage in, any operations for an indefinite period of time. The Company has not generated any revenue. Double Eagle Acquisition Corp. (NASDAQ:EAGL) Recent Trading Information
Double Eagle Acquisition Corp. (NASDAQ:EAGL) closed its last trading session 00.00 at 10.05 with 1,400 shares trading hands.