DeFi Technologies Misses Nasdaq $1 Deadline — DEFT Faces Delisting Review

Quick recap

Short version: DeFi Technologies missed the Nasdaq $1 minimum-bid deadline. DEFT closed the last trading day of August well below the $1 mark (around $0.60), so it couldn’t put together the required consecutive run of $1+ closes in time. Nasdaq counts consecutive closing prices, and because every August close was under $1, a pop on the final day couldn’t retroactively create the needed streak.

Nasdaq had already told the company in March that the stock had been under $1 for 30 straight business days as of early March, and gave a 180-calendar-day window that ended on Sept. 1. That window was supposed to be the chance to fix the bid-price problem; it didn’t get fixed in time.

What happens now (aka the awkward waiting room)

The miss moves DEFT into a formal eligibility review. Nasdaq has a few options: grant a second 180-day cure period (if the company meets other listing standards like the market value of publicly held shares), or issue a written delisting notice. Nasdaq staff can also ask for up to 20 consecutive business days of qualifying closes before confirming compliance, so getting back to good graces is not automatic or instant.

If Nasdaq decides the company either doesn’t qualify for another window or can’t reasonably cure the deficiency during a second period, a delisting notice would follow. DeFi Technologies would have the right to appeal that decision to a Nasdaq hearings panel.

One obvious fix on the table is a share consolidation (reverse split); shareholders have already authorized up to a 12-for-1 consolidation, but the board hasn’t pulled the trigger. That makes the reverse split a tool in the toolbox rather than a done deal. Company filings through the Sept. 1 deadline still labeled the company as noncompliant and referenced the authorized consolidation as an available remedy, but there was no public announcement of a second compliance window, regained compliance, an executed consolidation, or a delisting notice as of the deadline.

So — cliff notes: missed the $1 streak, now in review, could get another shot or could be headed for delisting unless the company and Nasdaq agree on a fix (and quickly). Keep your popcorn handy.