The shares of NASDAQ-traded real estate asset manager Caliber shot as the firm announced its pivot to a chainlink ark, despite the ongoing probe of the exchange.
According to a Thursday announcementThe Board of Caliber Directors approved the establishment of a Treasury approach of digital asset dedicated to chainlink (Link). Under its new policy, the company aims to provide a portion of its funds to obtain link tokens.
The Caliber Board also appointed a crypto advisory board that was assigned to managing the Digital Asset strategy, policy and related initiative. The news appears to be received by market participants, along with Google Finance data shows That the company’s stock rose by 77% in pre-market trading and maintained the newly acquired value on the early days of trading.
This update has arrived beyond the caliber Reporting that on Wednesday, the company received a written notice from the NASDAQ that it was “no longer following the NASDAQ Listing Rule 5550 (B) (1).” Establishing a chainlink treasury can be a way to try to resolve the issue before removing from the exchange.
Related: Monster Week for Crypto Treasury Firms with $ 8B Buying Blitz
Why Caliber is facing Nasdaq Delisting
The Rule The discussion requires companies to maintain a stakeholder equity of at least $ 2.5 million to ensure continuous exchange list. The company has 45 days to submit a plan and, if accepted, up to 180 days to cure this deficiency.
A Security and Exchange Commission File From the second quarter of this year shows that Caliber has a stockholders’ deficiency of $ 17.6 million. If the company fails to fill that hole, it will lose its status as a company that has been publicly exchanged. If the caliber manages to raise capital for its newly created chainlink treasury, it can be compliant with list policies again.
Related: Do the difficult companies use crypto reserves as a PR’s lifeline?
The rise of corporate altcoin treasury
After being created by approach, the first bitcoin (Btc) Treasury, formerly known as microstrategy, the trend of developing corporate crypto wealth at first is focused especially in Bitcoin. However, now an increasing number of companies has rather focus their treasury initiatives in the Altcoins.
Earlier this week, the Trump Media and Technology Group, the US President Donald Trump’s Truth Social Platform, announced the Establishment of CRO approach of Trump Media CRO To produce a treasury of at least $ 6.42 billion of Cronos (Cro). Similarly, sharing of Almost double of Sharps Technology Monday After the Medical Tech Firm announces a $ 400 million Solana (Sol) Treasury.
However, those companies are far from guaranteed success. Earlier this month, Windtree Therapeutics, a Biotech company that established a approach to last month’s BNB Treasury, fell 77% on Wednesday after Nasdaq said it would be removed.
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