#United States #NASDAQ #Dallas #battery technology #Solidion Technology

Solidion Technology Inc. Secures Compliance Extension With NASDAQ

In a significant development for investors and industry stakeholders, Solidion Technology, Inc. (NASDAQ: STI), a leader in advanced battery technology solutions, has recently received a compliance extension from NASDAQ. This action comes after the company faced a potential delisting due to its stock price falling below the critical $1.00 mark for 30 consecutive business days.

The initial concerns were flagged by NASDAQ's Listing Qualifications staff, indicating that Solidion had failed to comply with the minimum bid price requirement as outlined in NASDAQ Listing Rule 5450(a)(1). This rule is stringent; to regain compliance, the company needed its common stock price to reach or exceed $1.00 per share consistently for at least ten consecutive business days prior to the deadline of January 28, 2025.

On January 29, following a review, Solidion was notified that it did not meet the necessary criteria for compliance, which placed the company’s stock at risk of delisting beginning on February 7, 2025. In response to this predicament, Solidion submitted an appeal to a Hearings Panel on February 5, asking for reconsideration of the delisting decision.

On March 5, the outcome of this appeal was communicated to the company; the Hearings Panel granted Solidion an extension. This important decision allows the company to remain listed on NASDAQ, providing additional time to implement strategies aimed at reversing the decline in stock price. The new compliance deadline has been extended to May 16, 2025, during which Solidion must demonstrate adherence to the bid price rule.

Solidion is now tasked with taking necessary measures to promote a recovery in its stock price. This could potentially include a reverse stock split if deemed necessary, a move that is often used by companies in similar situations to consolidate shares and increase the stock price artificially.

Founded and headquartered in Dallas, Texas, Solidion Technology is at the forefront of innovation in the battery sector. With pilot production facilities located in Dayton, Ohio, the company specializes in the manufacturing of battery materials and components and the development of next-generation batteries designed for energy storage systems and electric vehicles. Its portfolio boasts over 550 patents, highlighting its commitment to research and development in the realms of advanced lithium-sulfur, lithium-metal technologies, and the cutting-edge use of silicon anodes.

As Solidion moves forward, its ability to navigate these compliance challenges will be critical for its future operations and stock performance. Investors and analysts alike will be observing closely to see if the company can not only recover its stock price but also sustain its momentum in a competitive market that is increasingly focused on sustainable energy solutions and advancements in battery technology.

For further updates on Solidion Technology Inc. and its initiatives, visit www.solidiontech.com or reach out to their Investor Relations team for more detailed information.