Datavault AI reaches its Nasdaq minimum bid-price deadline on Aug. 24, with DVLT 68% below the exchange’s $1 threshold and no disclosed decision on whether the company will receive more time or a delisting notice.
DVLT’s last sale was $0.3186 on Aug. 21, according to Nasdaq’s official quote feed. Nasdaq historical data showed every close/last reading from Aug. 7 through Aug. 21 below $1.
Datavault disclosed in a Feb. 27 filing that Nasdaq had given it until Aug. 24 to regain compliance, which requires a closing bid price of at least $1 for at least 10 consecutive business days.
With only Aug. 24 left in the window, the sub-$1 close/last reading on Aug. 21 left no practical route to complete a new 10-day closing-bid cure.
Nasdaq now decides whether Datavault gets more time
Under Nasdaq’s compliance rules, a Capital Market issuer can receive another 180 days if it meets the applicable continued-listing test for market value of publicly held shares and every other initial listing standard except bid price.
The company must also give Nasdaq written notice that it intends to cure the deficiency during the second period through a reverse stock split if necessary, which serves as a commitment to a potential cure.
Datavault’s June-quarter filing reported $245.9 million of stockholders’ equity and 949.7 million shares outstanding as of Aug. 19. At $0.3186, that share count implies about $302.6 million of total equity market value.
Total market value is not Nasdaq’s unrestricted public-float measure, and public filings do not establish required holder and market-maker counts. Nasdaq still controls the eligibility determination.
The timestamped SEC submissions feed and Datavault’s press-release index showed no extension or Staff Delisting Determination at the Aug. 24 refresh.
The only authority located in the reviewed SEC filings was a 2025 authorization permitting a 1-for-5 to 1-for-20 split no later than that year’s annual meeting. The SEC submissions feed showed no newer proxy or information statement granting replacement authority.
A reverse split would mechanically reduce the share count and, absent other factors, raise the per-share price. It would not itself create economic value, guarantee that DVLT stays above $1, or resolve Datavault’s separate capital needs.
Datavault agreed to sell 109.1 million shares at $0.55 in May and reported $1.4 million of cash alongside $79.96 million of operating cash use for the first half. Recent reports detailed those financing pressures in connection with the company’s proposed bank acquisition.
The decisive signal is now a formal exchange or company notice. An additional period would postpone the bid-price test, while a Staff Delisting Determination would begin the next listing process.
Leave a Reply
You must be logged in to post a comment.