Datavault AI Inc. NASDAQ:DVLT jumped 21% after outlining its $700 million minerals plan, but the stock still trades a dollar below Nasdaq minimums.
- Datavault AI was up around 21% at midday after a plan was announced for a proposed Patriot Strategic Metals platform.
- Trading volume came in at over double the 65-day average, yet the price didn’t move anywhere near the $1 minimum required on Nasdaq.
- The new deal numbers are big compared to Datavault’s most recent quarterly revenue, but the company said major terms still depend on raising financing and final agreements.
Datavault AI Inc. NASDAQ:DVLT jumped 21.0% to $0.4234 by midday Wednesday. The company said it is teaming up with Patriot Strategic Metals LLC on a planned strategic minerals platform with an initial Phase I program of up to $700 million. Shares stayed well below the $1 close needed for a Nasdaq cure.
The Philadelphia company said it plans to set up a Strategic Materials Acquisition Platform covering financing, tokenization, settlement and lifecycle work for strategic minerals. In what it called its Phase I plan, up to $62 million would go toward Datavault-linked technology integration, licensing, platform buildout and rollout.
Nathaniel T. Bradley, CEO, said the plan brings together “physical strategic assets” and Datavault’s “institutional grade cyber secure digital infrastructure.” Patriot Strategic Metals managing member John K. Park called Datavault the “technological foundation” powering the platform. Datavault AI Inc.
Datavault jumped 20.4% to $0.4214 at 12:18 p.m. EDT, according to MarketWatch. Volume was heavy at 85.91 million shares, or more than double the 65-day average. The finance feed later reported 89.9 million shares changed hands. The day’s range was tight in dollar terms, between $0.3479 and $0.4430.
| Datavault market measure | Midday figure | Investor read |
|---|---|---|
| Latest price | $0.4234 | Still 57.7 cents under $1 |
| Change from prior close | +21.0% | Big percentage jump off a low base |
| Rise needed to reach $1 | +136% | Stock has to more than double to hit $1 |
| Volume | 89.9 million shares | Roughly 2.2x the MarketWatch 65-day average |
| Day range | $0.3479-$0.4430 | About a 27% swing from low to high so far |
Datavault’s Nasdaq issue comes down to its share price, not the size of any announced deals. Nasdaq sent the company a notice on Feb. 24 because its stock closed under $1 for 30 straight business days. Datavault has until Aug. 24, 2026 to fix that, and the shares need to stay at or above $1 for 10 consecutive business days to comply.
The Patriot plan is much bigger than Datavault’s latest reported numbers. Datavault posted first-quarter revenue of $3.416 million, with a net loss of $53.131 million. The new Datavault-linked allocation at $62 million is nearly 18 times higher than its quarterly revenue.
| Deal or filing item | Amount or term | Comparison |
|---|---|---|
| Patriot Phase I program | Up to $700 million | Equals about 205x Q1 revenue |
| Datavault-related allocation | Up to about $62 million | Works out to about 18x Q1 revenue |
| Planned platform economics | 25% of net distributable platform profits, unless otherwise agreed | No recorded revenue detailed in the release |
| Q1 net loss | $53.131 million | Near 15.6x Q1 revenue |
Datavault’s release said the Phase I plan still needs financing, signed agreements, board sign-off and regulatory checks. The release also said the full Patriot procurement platform features a lined-up revolving facility of up to $20 billion, but that’s still subject to definitive agreements, funding and other terms.
Patriot made its announcement two days after Datavault filed an 8-K outlining a deal to sell 837 bitcoin to Scilex Holding Company NASDAQ:SCLX for $50 million. Under the terms, Scilex would put up $30 million right away and the rest—$20 million—would come in quarterly payments starting in the fourth quarter of 2026 through Dec. 31, 2028. Scilex could choose to pay the installments in cash, Scilex stock, securities of its public subsidiaries, or any combination.
Datavault said it held 837 bitcoin worth $57.111 million as of March 31 and sold 217 bitcoin to Scilex in Q1 to fund operations. The planned $50 million sale would take out the rest of the 837 bitcoin shown in the March quarter filing if completed on those terms.
Datavault said in a June 29 8-K that it could not guarantee the Scilex bitcoin sale would go through. The company also warned that if talks break down, disputes or even litigation could follow, with possible liquidity problems for Datavault.
