CryptoSlate
DeFi Technologies missed its Nasdaq minimum-bid cure deadline on Sept. 1 after DEFT closed Aug. 31 at $0.6032, with every August close below the $1 threshold leaving no chance to start the required consecutive closing-price streak above $1 before time ran out. The miss shifts the company from a 180-day cure window into an eligibility review, with a second compliance period or a written delisting determination as the next formal outcomes. No announcement of regained compliance, a delisting notice, or an executed share consolidation had been posted to the company's newsroom or SEC filings as of 11:19 UTC on Sept. 1.
Why it matters
Nasdaq notified DeFi Technologies on March 5 that DEFT had closed below $1 for 30 consecutive business days as of March 4, opening a 180-calendar-day cure period that ran through Sept. 1. With every August close finishing below the threshold, the stock entered the final day about 40% below $1, and a single intraday or closing print above the threshold on Sept. 1 could not have produced the required consecutive closes in time. Nasdaq's test uses consecutive closing prices, a structural feature that strips out any one-day spike from counting toward compliance.
Market impact
The next step is a Nasdaq eligibility review. If staff conclude the company can cure the deficiency, Nasdaq can grant a second 180-day window, conditional on DEFT meeting the market-value-of-publicly-held-shares standard and all other initial Nasdaq Capital Market standards except the bid-price rule. The company must also notify Nasdaq in writing of its intent to cure during the additional period. If not, Nasdaq issues written notice that the shares are subject to delisting, an outcome DeFi Technologies can appeal to a hearings panel.
Shareholders have already authorized the board to execute a share consolidation of up to 12-for-1, leaving a reverse split as the obvious lever. The annual meeting circular left timing and ratio to board discretion, with the maximum ratio capped before the next annual meeting. The company's Aug.
Frequently asked questions
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Why did DEFT fail Nasdaq's $1 cure deadline?
DEFT closed Aug. 31 at $0.6032, roughly 40% below the $1 minimum-bid requirement, with every August close finishing below the threshold. Nasdaq's test uses consecutive closing prices, leaving no way to start the required streak in time on the final day.
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What happens next for DeFi Technologies on Nasdaq?
Nasdaq staff will conduct an eligibility review and either grant a second 180-day cure window or issue written notice that DEFT shares are subject to delisting. The company can appeal a delisting determination to a Nasdaq hearings panel.
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What conditions would a second 180-day cure window require?
DEFT would need to meet the market-value-of-publicly-held-shares standard and all other initial Nasdaq Capital Market requirements except the bid-price rule. The company must also notify Nasdaq in writing of its intent to cure the deficiency during the additional period.
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Does DeFi Technologies have a reverse split planned?
Shareholders have authorized a reverse stock split of up to 12-for-1, but the board retains discretion over timing and ratio. The company's Aug. 13 filing identified the consolidation as a mechanism available to address the bid-price requirement, but no consolidation had been scheduled or executed through Sept. 1.
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When was DeFi Technologies first notified of the listing issue?
Nasdaq notified DeFi Technologies on March 5 that DEFT had closed below $1 for 30 consecutive business days as of March 4, opening a 180-calendar-day cure period that ended Sept. 1.
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