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DIH Holding US , Inc. (NASDAQ:DHAI), a Delaware-incorporated company in the medical instruments and apparatus sector with annual revenue of $69.57 million, has been notified by The Nasdaq Stock Market LLC of its non-compliance with the Minimum Value of Listed Securities (MVLS) requirement. The company’s market capitalization has declined to $17.36 million, with the stock price falling 83.53% over the past six months, according to InvestingPro data. The company, which also trades warrants under the symbol NASDAQ:DHAIW, was informed on Monday that its MVLS had fallen below the $50.0 million threshold required for continued listing on The Nasdaq Global Market.
The notification, which does not immediately affect DIH Holding’s listing status, sets a 180-day deadline to September 1, 2025, for the company to regain compliance. To meet the Nasdaq Listing Rule 5450(b)(2)(A), DIH Holding’s MVLS must exceed $50.0 million for at least ten consecutive business days within this period. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with multiple technical indicators suggesting oversold conditions. Subscribers can access 11 additional ProTips and comprehensive financial metrics for deeper analysis.
Should DIH Holding fail to comply by the deadline, it risks delisting, but it would have the right to appeal the decision to a Hearings Panel. The company has indicated that it is considering options to address the MVLS shortfall, though it has not assured that it will achieve compliance within the stipulated timeframe.
This development comes as the latest challenge for DIH Holding, previously known as Aurora Technology Acquisition Corp. before its name change on September 17, 2021. The company, which operates under the organization name 08 Industrial Applications and Services, is now tasked with improving its market valuation to satisfy Nasdaq’s requirements. Despite maintaining a gross profit margin of 50.04%, the company faces headwinds with its current stock price of $0.39, down 69.57% year-to-date.
The information in this article is based on a press release statement from DIH Holding US, Inc.
In other recent news, DIH Holding US, Inc. completed a public offering of 5,937,100 common units, priced at $0.7832 each, raising approximately $3.9 million after fees and expenses. The funds are intended for capital expenditures, working capital, and general corporate purposes. The offering was conducted under a Registration Statement declared effective by the SEC, with Maxim Group LLC acting as the sole placement agent. In corporate governance developments, DIH Holding announced the resignation of Dr. Patrick Bruno from its Board of Directors and executive roles, as well as the immediate departure of board member Cathryn Chen due to external work commitments. The company has not indicated plans to fill these board vacancies. Additionally, DIH Holding expanded its partnership with Zahrawi Group to include Saudi Arabia, enhancing the distribution of its rehabilitation solutions across the Middle East. This strategic move builds on their existing collaboration in the United Arab Emirates, Qatar, and Bahrain. The company’s leadership has not provided further comments on these changes or their potential impact on DIH Holding’s operations.
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