Solidion Technology Inc. receives NASDAQ notice regaining compliance of Minimum Market Value of Publicly held shares and listed securities deficiency

Rhea-AI Summary

Solidion Technology Inc. (NASDAQ: STI) has successfully regained compliance with NASDAQ listing requirements. The company, which provides advanced battery technology solutions, had received notice on September 3, 2024, regarding two compliance issues: failure to maintain a minimum market value of publicly held shares of $15 million and minimum market value of listed securities of $50 million on The Nasdaq Global Market. On January 30, 2025, NASDAQ staff confirmed that STI had regained compliance with both requirements, and these matters are now closed.

Positive

• Regained NASDAQ compliance, eliminating delisting risk
• Market value of publicly held shares now exceeds $15 million
• Market value of listed securities now exceeds $50 million

Negative

• None.

News Market Reaction

+17.92%

1 alert

+17.92% News Effect

On the day this news was published, STI gained 17.92%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Both of these matters are now closed

DALLAS, Feb. 4, 2025 /PRNewswire/ -- Solidion Technology, Inc. (NASDAQ: STI), an advanced battery technology solutions provider, previously disclosed in a Current Report on Form 8-K filed on September 3, 2024, the Company received written notice from Nasdaq that (i) it was not in compliance with Nasdaq Listing Rule 5450(b)(2)(C), which requires the Company's listed securities to maintain a minimum market value of publicly held shares of $15 million (the "MVPHS Rule"), and (ii) the Company's minimum market value of listed securities ("MVLS") was less than $50 million, which did not meet the requirement for continued listing on The Nasdaq Global Market, as required by Nasdaq Listing Rule 5450(b)(2)(A) (the "MVLS Rule").

On January 30, 2025, the Company received a letter from the Staff notifying the Company that it had regained compliance with the MVPHS Rule and the MVLS Rule and that both matters are now closed.

About Solidion Technology, Inc.

Headquartered in Dallas, Texas with pilot production facilities in Dayton, Ohio, Solidion's (NASDAQ: STI) core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems and electric vehicles for ground, air, and sea transportation. Solidion holds a portfolio of over 550 patents, covering innovations such as high-capacity, non-silane gas and graphene-enabled silicon anodes, biomass-based graphite, advanced lithium-sulfur and lithium-metal technologies.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains 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") desires 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.

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SOURCE Solidion Technology, Inc.

FAQ

When did Solidion Technology (STI) regain NASDAQ compliance?

Solidion Technology received confirmation of regaining NASDAQ compliance on January 30, 2025.

What were the two NASDAQ compliance issues STI faced in September 2024?

STI faced non-compliance with the minimum market value of publicly held shares ($15 million requirement) and minimum market value of listed securities ($50 million requirement).

What is the minimum market value requirement for STI's publicly held shares on NASDAQ?

The minimum market value requirement for publicly held shares is $15 million under NASDAQ Listing Rule 5450(b)(2)(C).

What is the minimum market value requirement for STI's listed securities on NASDAQ Global Market?

The minimum market value requirement for listed securities is $50 million under NASDAQ Listing Rule 5450(b)(2)(A).