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Datavault AI faces Nasdaq bid-price deadline with shares below $1
Datavault's last sale was $0.3186 on Aug. 21, leaving it only the Aug. 24 deadline to regain Nasdaq compliance for the $1 minimum bid price.
Datavault AI, which trades as DVLT, has reached the Nasdaq minimum bid-price deadline on Aug. 24, with its shares still well below the exchange's $1 threshold. CryptoSlate reports that DVLT was 68% below the required level, and Nasdaq data showed closes and last readings below $1 from Aug. 7 through Aug. 21.
According to the outlet, Datavault had been given until Aug. 24 to regain compliance, a condition tied to achieving a closing bid price of at least $1 for at least 10 consecutive business days. With only Aug. 24 left in the cure window and the Aug. 21 sub-$1 reading, CryptoSlate says there was no practical path to complete a new 10-day closing-bid cure.
The article notes that Nasdaq can grant another 180 days if the company meets other continued-listing tests, including market value of publicly held shares and every other initial listing standard besides the bid price. However, the company would need to provide written notice of its plan to cure the deficiency, potentially through a reverse stock split, which Nasdaq treats as a commitment to a potential remedy.
CryptoSlate also highlights that Datavault reported $245.9 million of stockholders' equity and 949.7 million shares outstanding as of Aug. 19. At $0.3186 per share, the outlet estimates an implied equity market value of about $302.6 million, and it says no extension or staff delisting determination was identified in the reviewed SEC materials as of the Aug. 24 refresh.
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