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

DeFi Technologies reached its Sept. 1 Nasdaq minimum-bid deadline after its US-listed DEFT shares closed Aug. 31 at $0.6032, making it impossible to complete the required 10-business-day streak at or above $1.

The threshold miss moves the company into an eligibility review, with either a second compliance window or a written delisting determination as the next formal outcome.

Nasdaq notified DeFi Technologies on March 5 that DEFT had closed below $1 for 30 consecutive business days as of March 4, and gave DeFi Technologies an initial 180-calendar-day period ending Sept. 1.

The stock's daily history through Aug. 31 showed every August close below $1, so a move above the threshold during the Sept. 1 session could not produce the required consecutive closing-price streak in time.

Nasdaq's test uses consecutive closing prices. DEFT entered the final day without an active qualifying streak, and the Aug. 31 close was about 40% below the $1 threshold. The company's March filing also said Nasdaq staff can require generally up to 20 consecutive business days before confirming compliance.

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