Datavault hits Nasdaq deadline 68% below $1 as delisting decision approaches

Datavault AI reached its Nasdaq minimum bid-price deadline on Aug. 24, with DVLT trading at 0.3186, 68% below the $1 threshold. No decision has been disclosed regarding an extension or delisting notice. Nasdaq historical data indicates that every closing price from Aug. 7 to Aug. 21 was below $1. The company was given until Aug. 24 to regain compliance, requiring a closing bid price of at least $1 for 10 consecutive business days. With only Aug. 24 remaining, the last recorded price left no viable path to achieve the necessary 10-day closing bid cure. Nasdaq will now determine if Datavault can receive an additional 180 days to meet compliance, provided it meets other listing standards. The company must notify Nasdaq of its intent to cure the deficiency, potentially through a reverse stock split. Datavault reported 245.9 million dollars in stockholders' equity and 949.7 million shares outstanding as of Aug. 19, implying a total equity market value of approximately 302.6 million dollars at the last share price. A reverse split could raise the per-share price but would not guarantee compliance or address Datavault's capital needs. The company previously agreed to sell 109.1 million shares at 0.55 dollars and reported 1.4 million dollars in cash, alongside significant operating cash use. A formal notice from Nasdaq or the company is expected to clarify the next steps.

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