{"schema_version":"secwatch.filing_event.v1","accession":"0001880613-26-000117","form_type":"8-K","ticker":"DRCT","cik":"0001880613","company_name":"Direct Digital Holdings, Inc.","filed_at":"2026-10-21T21:16:05+00:00","discovered_at":"2026-10-21T21:18:00.300693+00:00","generated_at":"2026-10-21T21:18:06.540351+00:00","sec_items":["3.01","7.01","9.01"],"event_type":"regulatory","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Direct Digital Holdings to voluntarily delist from Nasdaq Nov 12; will deregister stock with SEC","bullets":["Board authorized withdrawal Oct 20, 2026; Form 25 due on or about Nov 2, delisting effective ~Nov 12, 2026, with Section 12(b) registration ending ~Jan 31, 2027.","Nasdaq issued its delist determination Oct 1, 2026 after the company failed Listing Rule 5550(b)(1); trading has been suspended since Oct 5, 2026.","Class A shares now quote on the OTC Pink 'Limited Information' tier as DRCT and are expected to stay there; a higher OTC tier is under discussion only.","Company plans a Form 15 to deregister under Section 12(g) and suspend Section 15(d) reporting, ending 10-K, 10-Q and 8-K obligations.","Board said it lacked grounds to appeal, cited Exchange Act compliance costs and limited benefit post-suspension, and warned an OTC market may not be maintained."],"urls":{"canonical":"https://secwatch.observer/filing/0001880613-26-000117","json":"https://secwatch.observer/filing/0001880613-26-000117.json","markdown":"https://secwatch.observer/filing/0001880613-26-000117.md","text":"https://secwatch.observer/filing/0001880613-26-000117.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1880613/000188061326000117/0001880613-26-000117-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1880613/000188061326000117/drct-20261021.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-21T21:18:06.540351+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}