DT Cloud Star Acquisition requests Nasdaq hearing to stay delisting suspension

DT Cloud Star Acquisition said it requested a Nasdaq hearing to appeal a delisting determination, a move that stays a trading suspension that had been set to begin July 24.

Nasdaq warned on July 15 that the stock would be removed from the Nasdaq Global Market unless an appeal was filed by July 22.

The company failed to regain compliance by July 14 with Nasdaq’s minimum $50 million market value of listed securities requirement.

Nasdaq also cited a separate deficiency tied to the minimum 400 total shareholders rule, which it said makes the company ineligible for a previously granted compliance extension through Oct. 5.