Damon Inc. (DMNIF): Nasdaq/NYSE listing notice — Damon receives Nasdaq MVPHS non-compliance notice; closes dilutive $15M unit offering

Damon Inc.

Nasdaq notified Damon on March 20 that MVPHS was below $15M for 30 consecutive business days; compliance period until Sept 16, 2025.
Closed underwriting with Maxim Group: 126.9M units at $0.13/unit, each unit = 1 common share + 1 Series A warrant; net proceeds ~$15M.
Series A warrants exercisable at $0.195/share, but alternate cashless exercise allows 2.5 shares for no cash – company expects no additional funds from warrant exercise.
Consent agreement with Streeterville: uses ~14% of net proceeds ($2.1M) to prepay note; East West note terminated.
Settled with former advisor Peikin: pays $2.515M total, $1.515M cash, $1M deferred; Peikin surrenders 1,255,230 shares for cancellation.

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Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Damon Inc. received a nasdaq noncompliance notice notice regarding market value (rules 5450(b)(2)(C), 5810(c)(3)(D)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: market value
Rules: 5450(b)(2)(C), 5810(c)(3)(D)

Exact text from the filing

March 20, 2025, the Company received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the 30 consecutive business days from February 3, 2025 to March 19, 2025, the Company’s Market Value of Publicly Held Shares (“MVPHS”) had not maintained a minimum aggregate market value of $15,000,000 required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(C) (the “MVPHS Rule”). The Notice does not impact the listing of the Common Shares on The Nasdaq

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Damon Inc. filing history →

Source: SEC EDGAR

accession 0001013762-25-002132

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