Tighten vintage bonklip clasp?

Hi all,

Seeking the OF's advice about tightening the clasp on this NOS bonklip bracelet. The clasp seems to not want to hold in place no matter how hard I press it in as-is. Maybe it's a doomed design that belongs to history-- It looks like the piece just holds in with friction between two pieces of steel but not sure which part of the bracelet I should be manipulating so that it holds.