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SDMBearishLegalnews

High materiality8/10

Nasdaq Delists SDM; near-term liquidity risk and potential OTC move

Jun 23, 2026, 4:34 PM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Delisting and trading halt remove liquidity, likely causing a material devaluation and possible shift to OTC markets; investors face price discovery loss and potential complete loss of Nasdaq listing value.

AI summary

What happened, with direct paths to the underlying reporting

Smart Digital Group Limited faces a Nasdaq delisting after a June 17 notice following an SEC trading suspension in 2025. Absent a timely appeal by June 24, 2026, SDM's trading will be suspended on June 26, with Nasdaq filing Form 25-NSE to finalize the delisting. Management says operations remain normal while evaluating options.

Nasdaq to delist SDM; trading halts at June 26, 2026.
SEC suspended SDM trading on Sept 29, 2025, underpinning delisting trigger.
Appeal deadline: June 24, 2026; suspension may stay pending panel decision.
Nasdaq cites liquidity/manipulation risks under IM-5101-4 for delisting.
Form 25-NSE to be filed with the SEC to complete delisting.

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