Datavault AI Inc. (DVLT): Nasdaq/NYSE listing notice — WiSA Technologies receives Nasdaq delisting notice for stockholders' equity deficiency

Datavault AI Inc.

Nasdaq notified WiSA on Nov 17 it fails $2.5M stockholders' equity minimum; equity deficit was ($885,000) as of Sep 30, 2023.
Company must submit a compliance plan by Jan 2, 2024; may request a hearing if the plan is rejected.
If plan accepted, Nasdaq may grant up to 180 days extension from Nov 17 to regain compliance; failure leads to delisting.
Company states it anticipates compliance but gives no assurance; will evaluate options to address the deficiency.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 1.0

Datavault AI Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

November 17, 2023, the Nasdaq Listing Qualifications staff (the “Staff”) notified WiSA Technologies, Inc. (the “Company”) that it was not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires companies listed on the Nasdaq Capital Market (“Nasdaq”) to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing (the “Stockholders’ Equity Requirement”). The Company reported stockholders’ equity (deficit) of ($885,000) in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, and, as a result, did not satisfy the Stockholders’ Equity Requirement

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Datavault AI Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-120796

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