DeFi Technologies Misses Nasdaq Deadline, DEFT Enters Delisting Review
DEFT closed at $0.6032 on Aug. 31, missing the $1 bid-price cure period. Nasdaq may grant a second window or the board may pursue authorized consolidation.
DeFi Technologies missed the Sept. 1 deadline to regain compliance with Nasdaq's $1 minimum bid price for its DEFT shares.
The stock closed at $0.6032 on Aug. 31 and never achieved the required 10 consecutive business days at or above $1 during the cure period.
Nasdaq notified the company on March 5 after a 30-day period below the threshold and granted an initial 180-day window that ended Sept. 1.
Shareholders have authorized a consolidation of up to 12-for-1, but the board has not scheduled or executed any action.
Nasdaq may grant a second 180-day period if the company meets all other continued-listing standards and notifies the exchange in writing; whether that extension will be offered remains unknown.