Solidion Technology Granted Extension for Nasdaq Listing
DALLAS, March 6, 2025 /PRNewswire/ — Solidion Technology, Inc. (NASDAQ: STI), a company specializing in advanced battery technology, has been granted an extension by the Nasdaq Hearings Panel to maintain its listing on the Nasdaq Global Market.
The company had previously received a notice from Nasdaq’s Listing Qualifications staff stating that Solidion did not meet the minimum bid price requirement, falling below $1.00 per share for 30 consecutive business days. This failure to comply with Nasdaq Listing Rule 5450(a)(1) initially provided the company with a compliance period until January 28, 2025, to regain compliance.
To meet this requirement, the closing bid price of Solidion’s common stock needed to meet or exceed $1.00 per share for a minimum of 10 consecutive business days before January 28, 2025. When the company failed to regain compliance by the deadline, a Staff determination letter was issued on January 29, 2025, which stated that Solidion’s stock would be subject to delisting effective February 7, 2025.
In response, Solidion appealed the Staff’s determination to a Hearings Panel on February 5, 2025. The Panel has now granted Solidion’s request for an extension, allowing the company until May 16, 2025, to take steps to regain compliance with the bid price rule, potentially through a reverse stock split, and until May 30, 2025, to achieve compliance.
For further details, please visit www.solidiontech.com or contact Investor Relations.
About Solidion Technology, Inc.
Based in Dallas, Texas, with pilot production facilities in Dayton, Ohio, Solidion (NASDAQ: STI) focuses on the manufacturing of battery materials and components. They are also involved in the development and production of next-generation batteries for various modes of transportation including electric vehicles for ground, air, and sea travel. Solidion’s portfolio includes over 550 patents, covering innovations such as high-capacity, non-silane gas and graphene-enabled silicon anodes, biomass-based graphite, and advanced lithium-sulfur and lithium-metal technologies.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Solidion Technology Inc., (NASDAQ: STI), the “Company,” “Solidion,” “we,” “our” or “us” intends to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
