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DeFi Technologies, the parent of Swiss crypto ETP provider Valour, is facing a Nasdaq delisting review after failing to meet the exchange’s minimum share price requirement, CryptoSlate reported.
Nasdaq told the company in March that its stock had traded below $1 for 30 consecutive trading days and required it to stay at or above $1 for at least 10 straight trading days by Sept. 1. DEFT, however, closed at $0.6032 on Aug. 31, making it impossible to meet the requirement by the deadline. Nasdaq may now review whether the company meets additional listing standards and either grant up to 180 more days to regain compliance or issue a delisting notice. The company also has not yet implemented a reverse stock split approved by its board.