CryptoSlate reported that DeFi Technologies, the parent company of Valour, a Swiss cryptocurrency ETP provider, will undergo a delisting review for failing to meet Nasdaq's minimum stock price requirement. Nasdaq informed the company in March that its stock price had traded below $1 for 30 consecutive trading days and required it to maintain a price of $1 or more for at least 10 consecutive trading days by September 1. However, DEFT closed at $0.6032 on August 31, making it impossible to meet the requirement by the deadline. Nasdaq will review whether the company meets additional requirements in the future and may grant an additional cure period of up to 180 days or notify it of a delisting decision. The company has also not yet implemented the reverse stock split plan approved by its board of directors.
