DeFi Tech Shares Face Delisting as Nasdaq Price Threshold Missed

DeFi Technologies has fallen short of meeting Nasdaq's minimum-bid price threshold of $1, putting its DEFT shares at risk of delisting. The company's US-listed stock closed at $0.6032 on August 31, making it impossible to complete a 10-business-day streak above the required price. This development comes after Nasdaq notified DeFi Technologies in March that its shares had closed below $1 for 30 consecutive business days.

The Nasdaq test uses consecutive closing prices, and DEFT entered the final day without an active qualifying streak. With the August 31 close about 40% below the threshold, a move above $1 during the September 1 session would not have been enough to meet the requirement in time. The company's March filing also stated that Nasdaq staff can require up to 20 consecutive business days before confirming compliance.

Nasdaq has given DeFi Technologies an initial 180-calendar-day period, which ended on September 1. As a result, the company is now facing either a second compliance window or a written delisting determination as its next formal outcome. The Nasdaq Capital Market's continued-listing requirement for market value of publicly held shares and other applicable standards remain in effect.