Datavault faces Nasdaq delisting as share price hovers 68% below $1
DVLT's first cure period ends Aug. 24; extension hinges on listing tests and split notice.
Datavault Inc. (DVLT) is approaching a critical Nasdaq compliance deadline with its share price sitting about 68% below the $1 minimum bid requirement. The company's first cure period is scheduled to end on August 24.
To regain compliance before that date, DVLT's common stock must maintain a closing bid price of at least $1 for 10 consecutive business days. Failure to do so may result in a delisting notice unless the company secures an extension.
Possible 180-day extension
Nasdaq could grant an additional 180-day period if the company meets other listing standards and provides written notice of its intention to cure the deficiency, including details of a proposed stock split. Without that, delisting proceedings could begin.
The company has not yet disclosed its next steps. Investors face uncertainty as the deadline approaches.