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Solana Treasury Company Solmate receives a Nasdaq delisting warning and plans to apply for a hearing before the end of April
Golden Finance reported that on April 28, Solana Treasury Company Solmate Infrastructure, listed on Nasdaq (formerly Brera Holdings), announced that it has received a Nasdaq delisting decision notice. The reason is that its Class B common stock has closed below $1 for 30 consecutive trading days, failing to meet the minimum bid price requirement, and is facing being removed from the Nasdaq Capital Market. It is understood that the company will apply to Nasdaq for an independent hearing panel to review the matter before April 30; once the application is submitted, the delisting process will be automatically paused, and the shares can continue to trade. Previously, Solmate shareholders approved a 10-for-1 reverse stock split plan, and the company’s board of directors is advancing the related procedures. After completion, the company is expected to once again meet Nasdaq’s minimum stock price listing standards.