Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On January 11, 2023, Edify Acquisition Corp. (the "Company"), received a
notification letter from the Listing Qualifications Staff of The NASDAQ Stock
Market LLC ("Nasdaq") indicating that, since the Company has not yet held an
annual meeting of shareholders within twelve months of the end of its December
31, 2021 fiscal year, it is out of compliance with the Nasdaq rules for
continued listing (Listing Rules 5620(a) and 5810(c)(2)(G)). The notification
letter has no immediate effect on the listing of the Company's securities on the
Nasdaq Capital Market.
Under the applicable Nasdaq rules, the Company now has 45 calendar days to
submit a plan to regain compliance. If Nasdaq accepts the Company's plan, Nasdaq
can grant an exception of up to 180 calendar days from the Company's most recent
fiscal year end, or until June 29, 2023, to regain compliance.
The Company expects to file a definitive proxy statement in the coming weeks for
an annual meeting to be held in February 2023 to regain compliance with the
applicable Nasdaq Listing Rules.
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