Captivision (CAPT) said Friday it received a determination letter from Nasdaq stating it failed to regain compliance with listing requirements by the June 2 deadline.

The company had been under notice since December 2024 for not meeting the $50 million minimum market value of listed securities, a threshold required for continued listing on the Nasdaq Global Market.

Nasdaq also notified Captivision on May 22 that it was non-compliant with another listing rule due to its failure to file its annual Form 20-F for the period ended Dec. 31, 2024.

Captivision said it plans to request a hearing before a Nasdaq panel, which would temporarily stay any suspension or delisting action.