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% below the change’s $1 threshold and no disclosed decision on whether or not the corporate will obtain extra time or a delisting discover.
DVLT’s final sale was $0.3186 on Aug. 21, in response to Nasdaq’s official quote feed. Nasdaq historic information confirmed each shut/final studying from Aug. 7 by way of Aug. 21 below $1.
Datavault disclosed in a Feb. 27 filing that Nasdaq had given it till Aug. 24 to regain compliance, which requires a closing bid value 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
Under Nasdaq’s compliance rules, a Capital Market issuer can obtain one other 180 days if it meets the relevant continued-listing check for market worth of publicly held shares and every other initial listing standard besides bid value.
The firm should additionally give Nasdaq written discover that it intends to treatment the deficiency throughout the second interval by way of a reverse inventory cut up if obligatory, 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.
Total market worth shouldn’t be Nasdaq’s unrestricted public-float measure, and public filings don’t set up required holder and market-maker counts. Nasdaq nonetheless controls the eligibility willpower.
The timestamped SEC submissions feed and Datavault’s press-release index confirmed no extension or Staff Delisting Determination on the Aug. 24 refresh.
The solely 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 alternative authority.
A reverse cut up would mechanically cut back the share depend and, absent different components, elevate the per-share value. It wouldn’t 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 May and reported $1.4 million of money alongside $79.96 million of working money use for the primary half. Recent reviews detailed those financing pressures in reference to the corporate’s proposed financial institution acquisition.
The decisive sign is now a proper change or firm discover. An extra interval would postpone the bid-price check, whereas a Staff Delisting Determination would start the subsequent itemizing course of.
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