SOLAI Limited Receives Delisting Notice from the New York Stock Exchange
Rhea-AI Summary
SOLAI Limited (NYSE: SLAI) announced that on July 16, 2026 it received a written notice from NYSE Regulation to commence proceedings to delist its American Depositary Shares (ADSs), each representing 700 Class A ordinary shares. Trading in the ADSs on the NYSE was suspended the same day.
NYSE Regulation acted under Section 802.01B because SOLAI fell below the continued listing standard requiring a US$15 million average global market capitalization over 30 consecutive trading days. SOLAI can request a review by an NYSE Board committee. The company expects its ADSs or underlying shares to be quoted on an OTC Markets tier, which may offer less liquidity than the NYSE, but says operations and SEC reporting obligations will remain unaffected.
Positive
- Right to review NYSE decision via NYSE Board committee process
- Business operations stated to continue as usual despite NYSE suspension
- OTC Markets quotation expected for ADSs or underlying Class A shares
- SEC reporting obligations confirmed to remain unchanged after transition
Negative
- NYSE delisting proceedings initiated under Section 802.01B
- Trading in ADSs suspended on NYSE as of July 16, 2026
- Below continued listing standard of US$15 million 30-day average market cap
- Potential lower liquidity anticipated on OTC Markets versus NYSE listing
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 18 | ADS ratio change | Neutral | -8.3% | ADS ratio change from 100 to 700 shares per ADS |
| Jun 02 | Acquisition completion | Positive | -11.1% | Completed acquisition of 51% NEURALAND stake through share issuance |
| Jun 01 | Acquisition agreement | Positive | +5.1% | Agreed to acquire 51% NEURALAND stake via share exchange |
| May 26 | Q1 earnings report | Positive | -2.8% | Reported Q1 revenue growth and narrower operating and net losses |
| May 26 | NYSE compliance notice | Negative | -2.8% | Received NYSE notice for market-capitalization and equity deficiencies |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
SOLAI's recent news history showed four negative 24-hour reactions across five events, including both prior NYSE compliance disclosures.
Key Terms
market capitalization financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
NYSE Regulation reached its decision to delist the Company's ADSs pursuant to Section 802.01B of the NYSE's Listed Company Manual because the Company had fallen below the NYSE's continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least
The Company has a right to a review of this determination by a Committee of the Board of Directors of the NYSE. The NYSE will apply to the Securities and Exchange Commission to delist the Company's ADSs upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation's decision.
"We are carefully evaluating the Company's available options, including seeking a review of the NYSE's determination," said Mr. Man San Vincent Law, Chairman of the Board of the Company. "The Company remains committed to maintaining transparent communication with our shareholders as we evaluate the appropriate next steps. Our business operations continue as usual, and our management team remains focused on executing our strategic priorities."
The Company expects that the ADSs or the underlying Class A ordinary shares will be eligible to be quoted on an appropriate tier of the OTC Markets. To the extent the ADSs or the underlying Class A ordinary shares are quoted on the OTC Markets, the Company expects that such markets may provide less liquidity than the NYSE.
This transition to the OTC Markets will not affect the Company's business operations or its U.S. Securities and Exchange Commission reporting obligations.
About SOLAI Limited
SOLAI Limited (previously known as "BIT Mining Limited") (NYSE: SLAI) (previously traded under "BTCM") is a technology-driven personal AI and digital infrastructure provider. Building upon its historical legacy in digital asset mining and blockchain network operations, the Company is leveraging extensive experience in large-scale hardware deployment, data center operations, and high-performance computing to build the foundational infrastructure for personal AI computing and digital asset ecosystems globally.
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates", "target", "going forward", "outlook" and similar statements. Statements that are not historical facts are forward-looking statements. Such statements are based upon management's current beliefs and expectations, as well as current market and operating conditions. Forward-looking statements involve inherent risks and uncertainties, all of which are difficult to predict and many of which are beyond the Company's control. A number of factors could cause actual results, performance or achievements to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For more information:
SOLAI Limited
ir@solai.com
ir.solai.com
www.solai.com
Christensen Advisory
Jason Ng
Tel: +852-2117-0861
Email: solai@christensencomms.com
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SOURCE SOLAI Limited