Datavault hits Nasdaq deadline 68% below $1 as extension or delisting decision looms
Datavault AI reaches its Nasdaq minimal bid-price deadline on Aug. 24, with DVLT 68% under the change’s $1 threshold and no disclosed determination on whether or not the corporate will obtain extra time or a delisting discover.
DVLT’s final sale was $0.3186 on Aug. 21, based on Nasdaq’s official quote feed. Nasdaq historic information confirmed each shut/final studying from Aug. 7 by Aug. 21 under $1.
Datavault disclosed in a Feb. 27 filing that Nasdaq had given it till Aug. 24 to regain compliance, which requires a closing bid worth of not less than $1 for not less than 10 consecutive enterprise days.
With solely Aug. 24 left within the window, the sub-$1 shut/final studying on Aug. 21 left no sensible route to finish a brand new 10-day closing-bid treatment.
Nasdaq now decides whether or not Datavault will get extra time
Below Nasdaq’s compliance rules, a Capital Market issuer can obtain one other 180 days if it meets the relevant continued-listing take a look at for market worth of publicly held shares and every other initial listing standard besides bid worth.
The corporate should additionally give Nasdaq written discover that it intends to treatment the deficiency through the second interval by a reverse inventory cut up if crucial, which serves as a dedication to a possible treatment.
Datavault’s June-quarter filing reported $245.9 million of stockholders’ fairness and 949.7 million shares excellent as of Aug. 19. At $0.3186, that share depend implies about $302.6 million of complete fairness market worth.
Whole market worth is just not Nasdaq’s unrestricted public-float measure, and public filings don’t set up required holder and market-maker counts. Nasdaq nonetheless controls the eligibility dedication.
The timestamped SEC submissions feed and Datavault’s press-release index confirmed no extension or Workers Delisting Dedication on the Aug. 24 refresh.
The one authority situated within the reviewed SEC filings was a 2025 authorization allowing a 1-for-5 to 1-for-20 cut up no later than that year’s annual meeting. The SEC submissions feed confirmed no newer proxy or info assertion granting substitute authority.
A reverse cut up would mechanically cut back the share depend and, absent different components, elevate the per-share worth. It could not itself create financial worth, assure that DVLT stays above $1, or resolve Datavault’s separate capital wants.
Datavault agreed to sell 109.1 million shares at $0.55 in Could and reported $1.4 million of money alongside $79.96 million of working money use for the primary half. Latest reviews detailed these financing pressures in reference to the corporate’s proposed financial institution acquisition.
The decisive sign is now a proper change or firm discover. A further interval would postpone the bid-price take a look at, whereas a Workers Delisting Dedication would start the subsequent itemizing course of.
