Scage Future warned on Nasdaq value thresholds
Scage Future faces multiple Nasdaq listing deficiencies and has until late 2026–early 2027 to restore compliance or risk delisting or a market-tier transfer.
Rhea-AI Filing Summary
Scage Future (SCAG) reports that Nasdaq has notified it that its Market Value of Listed Securities (MVLS) and Market Value of Publicly Held Shares (MVPHS) have been below the required thresholds for 30 consecutive business days, putting its Nasdaq Global Market listing at risk.
The company has 180 calendar days, through February 23, 2027, to regain compliance by having MVLS at or above US$50 million and MVPHS at or above US$15 million for at least ten consecutive business days, with Nasdaq able to require up to 20 days. Trading in its ADSs continues, but a deficiency flag will be displayed, and the company could face delisting or need to transfer to the Nasdaq Capital Market if it cannot cure these and previously disclosed minimum bid price and audit committee composition deficiencies.
Positive
- None.
Negative
- Multiple Nasdaq listing deficiencies increase delisting risk, including MVLS below US$50 million, MVPHS below US$15 million, a prior minimum bid price notice, and an audit committee composition issue, all with compliance deadlines between December 2026 and February 23, 2027.
- Public deficiency status may pressure the stock, as Nasdaq will display a deficiency indicator with SCAG quotation data and list the company among non-compliant issuers, potentially affecting investor perception and liquidity.
- Uncertain path to regaining compliance, since Scage Future only states it intends to monitor MVLS and MVPHS and consider options, including a possible transfer to the Nasdaq Capital Market, with no assurance it can meet the required thresholds within the allowed periods.
Filing Explained
The September 2 filing adds that Nasdaq also found Scage Future does not meet the Total Assets and Total Revenue listing standard, creating an additional current listing deficiency; the company says its business operations are unaffected by the notification.
Key Figures
Minimum Market Value of Listed Securities (MVLS) requirement: US$50,000,000
Minimum Market Value of Publicly Held Shares (MVPHS) requirement: US$15,000,000
MVLS and MVPHS compliance period: 180 calendar days
+4 more
7 metrics
Minimum Market Value of Listed Securities (MVLS) requirement
US$50,000,000
Required threshold for continued Nasdaq Global Market listing under Listing Rule 5450(b)(2)(A)
Minimum Market Value of Publicly Held Shares (MVPHS) requirement
US$15,000,000
Required threshold for continued Nasdaq Global Market listing under Listing Rule 5450(b)(2&3)(C)
MVLS and MVPHS compliance period
180 calendar days
Compliance period ending February 23, 2027 to regain MVLS and MVPHS compliance
MVLS and MVPHS compliance deadline
February 23, 2027
Date by which Scage Future must regain MVLS and MVPHS compliance
Minimum bid price compliance deadline
December 8, 2026
End of compliance period for prior Nasdaq minimum bid price deficiency notice
Audit committee remediation deadline
December 22, 2026
End of remediation period for Nasdaq audit committee composition notice
Review window for MVLS and MVPHS deficiency
30 consecutive business days
July 16, 2026 to August 26, 2026 period used by Nasdaq to determine non-compliance
Key Terms
Market Value of Listed Securities, Market Value of Publicly Held Shares, Nasdaq Global Market, Nasdaq Capital Market, +2 more
6 terms
Market Value of Listed Securities market
"based on the Company’s Market Value of Listed Securities (“MVLS”)"
Market value of listed securities is the market value of the shares a company has listed on an exchange, calculated as the closing bid price multiplied by the number of listed shares. Exchanges use it as a continued-listing standard, so a company that stays under the required minimum receives a deficiency notice and is given a set period to recover before facing delisting.
Nasdaq Global Market market
"required for continued listing on The Nasdaq Global Market"
The Nasdaq Global Market is a section of the stock exchange where larger, well-established companies are listed and publicly traded. It functions like a marketplace where investors can buy and sell shares of these companies, providing them with access to capital and opportunities for growth. Its role is important because it helps investors identify and invest in reputable companies with strong financial backgrounds.
Nasdaq Capital Market market
"may be eligible to transfer its listing to The Nasdaq Capital Market"
The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.
minimum bid price requirement market
"received a notification from Nasdaq on June 11, 2026 regarding the minimum bid price requirement"
A minimum bid price requirement is a rule that a stock must trade above a set price for a specified period to stay listed on an exchange. It matters to investors because falling below that threshold can trigger warnings or removal from the exchange, which can cut liquidity, reduce visibility, and often lead to sharper declines in share value—think of it like a venue’s minimum dress code that, if not met, can bar a performer from the stage.
audit committee composition regulatory
"received a notification regarding the composition of its audit committee"
FAQ
What Nasdaq compliance issues did Scage Future (SCAG) disclose?
Scage Future disclosed Nasdaq notices that its Market Value of Listed Securities fell below US$50 million and its Market Value of Publicly Held Shares fell below US$15 million, plus earlier notices on the minimum bid price and audit committee composition requirements.
How long does Scage Future (SCAG) have to regain Nasdaq MVLS and MVPHS compliance?
Scage Future has 180 calendar days, through February 23, 2027, to regain compliance. Its MVLS must reach at least US$50 million and MVPHS at least US$15 million for a minimum of ten consecutive business days, with Nasdaq able to require up to 20 days.
Is Scage Future’s (SCAG) stock still trading on the Nasdaq Global Market?
Yes. The company states that the Nasdaq notifications have no immediate effect on listing or trading of its American depositary shares, which continue to trade on the Nasdaq Global Market under the symbol SCAG, though a deficiency indicator will be shown online.
What happens if Scage Future (SCAG) fails to regain Nasdaq compliance by the deadlines?
If Scage Future does not regain compliance, Nasdaq may notify the company that its securities are subject to delisting. The company could then appeal to a Nasdaq Hearings Panel or, if eligible, apply to transfer its listing to the Nasdaq Capital Market.
What other Nasdaq deadlines does Scage Future (SCAG) face besides MVLS and MVPHS?
Scage Future previously received a minimum bid price notice with a compliance period through December 8, 2026, and an audit committee composition notice with a remediation period through December 22, 2026, in addition to the MVLS and MVPHS deadline of February 23, 2027.
Are Scage Future’s (SCAG) business operations affected by the Nasdaq notifications?
The company states that its business operations are not affected by the Nasdaq notifications. The issues relate to listing standards such as market value, bid price, and audit committee composition, rather than day-to-day operating activities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
