FalconStor Software Files Form 15 to Voluntarily Deregister Under Section 12(g) of the SEC

AUSTIN, Texas--(BUSINESS WIRE)-- FalconStor Software, Inc. (OTCQB: FALC) (the “Company” or “FalconStor”), a trusted data protection leader modernizing disaster recovery and backup for the hybrid cloud world, today announced that it filed a Form 15 with the Securities and Exchange Commission (the “SEC”) to voluntarily deregister under Section 12(g) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Upon the filing of Form 15, the Company’s obligation to file periodic and current reports with the SEC, including Forms 10-K, 10-Q, and 8-K, was suspended. The Company expects that the deregistration will become effective 90 days after the filing of Form 15. Following deregistration, it is expected that the Company’s common stock will continue to be traded on the OTC Pink Current trading market.

About FalconStor Software

FalconStor is the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world. The Company enables enterprise customers and managed service providers to secure, migrate, and protect their data while reducing data storage and long-term retention costs by up to 95%. More than 1,000 organizations and managed service providers worldwide standardize on FalconStor as the foundation for their cloud first data protection future. Our products are offered through and supported by a worldwide network of leading managed service providers, systems integrators, resellers, and original equipment manufacturers.

FalconStor and FalconStor Software are trademarks or registered trademarks of FalconStor Software, Inc., in the U.S. and other countries. All other company and product names contained herein may be trademarks of their respective holders.

Links to websites or pages controlled by parties other than FalconStor are provided for the reader's convenience and information only. FalconStor does not incorporate into this release the information found at those links nor does FalconStor represent or warrant that any information found at those links is complete or accurate. Use of information obtained by following these links is at the reader's own risk.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230712733677/en/

For more information, contact:

Vincent Sita

Chief Financial Officer FalconStor Software Inc.

investorrelations@falconstor.com

CONTACT US AROUND THE GLOBE

Corporate Headquarters

501 Congress Avenue

Suite 150

Austin, Texas 78701

Tel: +1.631.777.5188

salesinfo@falconstor.com

Europe Headquarters

GERMANY

Landsberger Straße 302

80687 München, Germany

salesemea@falconstor.com

Source: FalconStor Software, Inc.