UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): May 31, 2023 |
ARKO Corp.
(Exact name of Registrant as Specified in Its Charter)
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Delaware | 001-39828 | 85-2784337 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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8565 Magellan Parkway Suite 400 | |
Richmond, Virginia | | 23227-1150 |
(Address of Principal Executive Offices) | | (Zip Code) |
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Registrant’s Telephone Number, Including Area Code: (804) 730-1568 |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
| | Trading Symbol(s) | | Name of each exchange on which registered
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Common Stock, $0.0001 par value per share | | ARKO | | The Nasdaq Stock Market LLC |
Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50 | | ARKOW | | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on May 4, 2023, Starlette Johnson notified ARKO Corp. (the “Company”) of her resignation from the Board of Directors of the Company (the “Board”) effective on May 5, 2023.
Because Ms. Johnson had been a member of the Board’s audit committee (the “Audit Committee”), on May 31, 2023, the Company notified The Nasdaq Stock Market LLC (“Nasdaq”), that, as a result of Ms. Johnson’s resignation, the Company was no longer in compliance with Nasdaq Listing Rule 5605(c)(2), which requires that the Audit Committee consist of at least three members, each of whom is an independent director and who otherwise satisfies the criteria for service on the Audit Committee under applicable Nasdaq Rules. On June 2, 2023, the Company received a notification from Nasdaq confirming the foregoing and that, as permitted by Nasdaq Listing Rule 5605(c)(4)(B), the Company has until November 1, 2023 to cure this non-compliance. The Company expects to cure this non-compliance prior to November 1, 2023 and has an active search underway to fill the vacancy on the Audit Committee.
SIGNATURES
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.
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| | | ARKO Corp. |
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Date: | June 2, 2023 | By: | /s/ Arie Kotler |
| | Name: Title: | Arie Kotler President, Chief Executive Officer and Chairman of the Board |