Solana treasury company Solmate receives Nasdaq delisting

Jinse Finance reported that on April 28, Solana infrastructure company Solmate Infrastructure (formerly Brera Holdings), listed on Nasdaq, announced it has received a delisting determination notice from Nasdaq. This is due to its Class B common stock closing below $1 for 30 consecutive trading days, failing to meet the minimum bid price requirement and facing delisting from the Nasdaq Capital Market. The company will apply to a Nasdaq independent hearing panel by April 30. Once the application is submitted, the delisting process will be automatically suspended and the stock can continue to trade. Previously, Solmate shareholders approved a 10-to-1 reverse stock split plan, and the company’s board of directors is advancing related procedures. Upon completion, the company is expected to meet the Nasdaq minimum listing price standard again.