DeFi Technologies misses Nasdaq $1 deadline as DEFT faces delisting review

According to CryptoSlate, DeFi Technologies missed Nasdaq's $1 minimum-bid requirement after its DEFT shares closed at $0.6032 on August 31, failing to complete the necessary closing-price streak by the September 1 deadline. Nasdaq originally notified the company on March 5 regarding the deficiency, granting an initial 180-calendar-day compliance period.

Nasdaq will now review whether DeFi Technologies qualifies for a second 180-day compliance window or if it will face a written delisting determination. To qualify for an extension, the company must satisfy continued-listing requirements for the market value of publicly held shares, meet other applicable initial standards, and provide written notice of its intent to cure the deficiency. If an extension is denied, Nasdaq would issue a delisting notice, which the company could appeal to a hearings panel.

Although shareholders authorized a share consolidation of up to 12-for-1, company materials through September 1 showed no executed consolidation, leaving its next compliance step unresolved. CryptoSlate reported that no announcement regarding a second compliance period, delisting determination, or executed consolidation had been made.