BNB Plus Corp. (NASDAQ: BNBX) is set to leave the Nasdaq Capital Market after receiving a final delisting determination from Nasdaq over its failure to comply with the exchange’s minimum $1.00 bid price requirement. The company’s shares are expected to stop trading on Nasdaq at the opening bell on July 14, 2026, and begin trading on the OTCQB Venture Market under the same ticker symbol, BNBX.
The move follows a decision by Nasdaq’s Hearings Panel after months of compliance proceedings related to the company’s share price. Although BNB Plus plans to seek further review from the Nasdaq Listing and Hearing Review Council, the appeal will not delay the delisting or the transition to the over-the-counter market. The development comes shortly after BNB Plus Raises $4.1M through a financing transaction as it continues to advance its strategic review and BNB-focused treasury plans.
Nasdaq review will continue despite delisting
BNB Plus said it intends to request that the Nasdaq Listing and Hearing Review Council reconsider the Hearings Panel’s decision, citing its recently completed financing and ongoing strategic review process.
However, under Nasdaq’s rules, filing the request does not automatically suspend the delisting process. As a result, the company’s common stock is scheduled to be removed from Nasdaq while the review remains pending.
The Listing and Hearing Review Council has several options if it accepts the case, including:
- Affirm the Hearing Panel’s delisting decision.
- Reverse or modify the decision.
- Send the matter back to the Hearing Panel for additional review.
There is no guarantee that the council will accept the request or ultimately restore the company’s Nasdaq listing.
Shares move to OTCQB market
Following the Nasdaq suspension, BNB Plus expects its shares to begin trading on the OTCQB Venture Market on or shortly after July 14 under the unchanged ticker symbol. The OTCQB is operated by OTC Markets Group and is designed for developing and growth-stage public companies that continue to meet financial reporting requirements. While companies listed on OTCQB remain publicly traded, they generally receive less institutional exposure than companies listed on major exchanges such as Nasdaq.
BNB Plus said the change in trading venue is not expected to affect its day-to-day business operations. The company also confirmed it will continue filing periodic reports with the U.S. Securities and Exchange Commission (SEC) as a fully reporting public company.
Bid price requirement triggered the delisting
Nasdaq requires companies listed on the Capital Market to maintain a minimum closing bid price of $1.00 per share. BNB Plus failed to regain compliance within the applicable timeframe, resulting in the Hearing Panel’s decision to delist the stock.
The transition to OTCQB means shareholders will continue to be able to trade BNBX shares, although trading volumes and liquidity may differ from those on a national securities exchange. Despite the delisting, investor interest in the BNB ecosystem has increased following the debut of the First U.S. Spot BNB ETF, which has expanded institutional access to BNB-related investment products.
Company continues strategic transition
BNB Plus, formerly known as Applied DNA Sciences, has been repositioning its business around a BNB-focused digital asset treasury strategy while continuing to operate its biotechnology business serving the biopharmaceutical and diagnostics sectors.
Recent developments highlighted by the company include:
- Completion of a recent financing transaction.
- An ongoing strategic review aimed at evaluating corporate alternatives.
- Continued management of its BNB treasury strategy alongside its legacy biotechnology operations.
Whether these developments will influence the outcome of the Nasdaq review remains uncertain. Until a final decision is reached, the company’s shares are expected to continue trading on the OTCQB Venture Market rather than returning to Nasdaq.
The delisting represents another example of how prolonged share price weakness can force listed companies off major U.S. exchanges, even as they continue operating and meeting SEC reporting obligations. For investors, the focus now shifts to whether BNB Plus can execute its strategic plans while pursuing a potential return to Nasdaq through the review process. Meanwhile, Binance CEO says 70% crypto withdrawals from the EU now flow to self-custodied wallets, highlighting broader changes in the cryptocurrency market that continue to shape sentiment around BNB-related businesses.
