Solidion Technology Inc. Granted Compliance Extension By NASDAQ
Solidion Technology (NASDAQ: STI) has received an extension from Nasdaq to maintain its listing compliance after failing to meet the minimum bid price requirement of $1.00 per share. The company, which initially received notice on August 7, 2024, was given until January 28, 2025 to regain compliance by maintaining a closing bid price above $1.00 for 10 consecutive business days.
After failing to meet this requirement, STI faced potential delisting from the Nasdaq Global Market on February 7, 2025. However, following an appeal to the Hearings Panel on February 5, 2025, the company has been granted an additional extension until May 16, 2025 to implement necessary measures, including a potential reverse stock split, to regain compliance by May 30, 2025.
Solidion Technology (NASDAQ: STI) ha ricevuto un'estensione da Nasdaq per mantenere la conformit脿 alla sua quotazione dopo non aver rispettato il requisito del prezzo minimo di offerta di $1,00 per azione. L'azienda, che ha ricevuto inizialmente la notifica il 7 agosto 2024, ha tempo fino al 28 gennaio 2025 per ripristinare la conformit脿 mantenendo un prezzo di chiusura superiore a $1,00 per 10 giorni lavorativi consecutivi.
Dopo non essere riuscita a soddisfare questo requisito, STI ha affrontato il rischio di delisting dal Nasdaq Global Market il 7 febbraio 2025. Tuttavia, dopo un ricorso al Hearings Panel il 5 febbraio 2025, l'azienda ha ottenuto un'ulteriore estensione fino al 16 maggio 2025 per attuare le misure necessarie, inclusa una possibile divisione inversa delle azioni, per ripristinare la conformit脿 entro il 30 maggio 2025.
Solidion Technology (NASDAQ: STI) ha recibido una extensi贸n de Nasdaq para mantener su cumplimiento de cotizaci贸n despu茅s de no cumplir con el requisito del precio m铆nimo de oferta de $1.00 por acci贸n. La compa帽铆a, que recibi贸 la notificaci贸n inicial el 7 de agosto de 2024, tiene hasta el 28 de enero de 2025 para recuperar el cumplimiento manteniendo un precio de cierre por encima de $1.00 durante 10 d铆as h谩biles consecutivos.
Tras no cumplir con este requisito, STI enfrent贸 un posible deslistado del Nasdaq Global Market el 7 de febrero de 2025. Sin embargo, tras una apelaci贸n al Hearings Panel el 5 de febrero de 2025, la compa帽铆a ha recibido una extensi贸n adicional hasta el 16 de mayo de 2025 para implementar las medidas necesarias, incluida una posible divisi贸n inversa de acciones, para recuperar el cumplimiento antes del 30 de mayo de 2025.
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Solidion Technology (NASDAQ: STI) a re莽u une prolongation de Nasdaq pour maintenir sa conformit茅 脿 la cotation apr猫s ne pas avoir respect茅 l'exigence de prix d'offre minimum de 1,00 $ par action. L'entreprise, qui a initialement re莽u un avis le 7 ao没t 2024, a jusqu'au 28 janvier 2025 pour retrouver la conformit茅 en maintenant un prix de cl么ture sup茅rieur 脿 1,00 $ pendant 10 jours ouvrables cons茅cutifs.
Apr猫s avoir 茅chou茅 脿 respecter cette exigence, STI a 茅t茅 confront茅e 脿 un risque de radiation du Nasdaq Global Market le 7 f茅vrier 2025. Cependant, suite 脿 un appel au Hearings Panel le 5 f茅vrier 2025, l'entreprise a obtenu une prolongation suppl茅mentaire jusqu'au 16 mai 2025 pour mettre en 艙uvre les mesures n茅cessaires, y compris une 茅ventuelle division invers茅e des actions, afin de retrouver la conformit茅 d'ici le 30 mai 2025.
Solidion Technology (NASDAQ: STI) hat eine Verl盲ngerung von Nasdaq erhalten, um die Einhaltung seiner Listung aufrechtzuerhalten, nachdem es die Mindestgebotsanforderung von $1,00 pro Aktie nicht erf眉llt hat. Das Unternehmen, das am 7. August 2024 zun盲chst benachrichtigt wurde, hat bis zum 28. Januar 2025 Zeit, die Einhaltung wiederherzustellen, indem es einen Schlusskurs von 眉ber $1,00 f眉r 10 aufeinanderfolgende Gesch盲ftstage aufrechterh盲lt.
Nachdem es diese Anforderung nicht erf眉llt hat, sah sich STI am 7. Februar 2025 mit einer m枚glichen Delistierung vom Nasdaq Global Market konfrontiert. Nach einem Einspruch beim Hearings Panel am 5. Februar 2025 wurde dem Unternehmen jedoch eine zus盲tzliche Verl盲ngerung bis zum 16. Mai 2025 gew盲hrt, um die erforderlichen Ma脽nahmen zu ergreifen, einschlie脽lich einer m枚glichen Aktienzusammenlegung, um bis zum 30. Mai 2025 die Einhaltung wiederherzustellen.
- Received extension until May 30, 2025 to regain compliance
- Successfully appealed initial delisting determination
- Stock trading below $1.00 for extended period
- Risk of potential delisting from Nasdaq Global Market
- May need to implement reverse stock split, which typically signals company distress
Insights
Solidion Technology's compliance extension from NASDAQ represents a concerning development for the company. With its stock trading at just
Reverse splits are generally viewed unfavorably by the market as they're typically associated with distressed companies. With STI's current price, they would need approximately a 1-for-7 reverse split to exceed the
The prolonged sub-
Company will take necessary steps to maintain listing
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), at the time, the Company had been provided an initial compliance period of 180 calendar days, or until January 28, 2025, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed
On January 29, 2025, the Company received a Staff determination letter that stated the Company had not regained compliance with the Bid Price Rule, and, as a result, the Company's common stock was subject to delisting from the Nasdaq Global Market at the opening of business on February 7, 2025. The Company submitted a written request to appeal the Staff's determination to a Hearings Panel on February 5, 2025.
In response to the Company's Written Request, on March 5, 2025, the Company received written notification (the "Extension Notice") from the Panel notifying the Company that the Panel had granted the Company's request for an additional period, during which the Company will remain listed on Nasdaq, to regain compliance with the Bid Price Rule. Pursuant to the Extension Notice, the Panel granted the Company an additional period until May 16, 2025 to effect a reverse stock split, if necessary, to regain compliance with the Bid Price Rule by May 30, 2025.
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About Solidion Technology, Inc.
Headquartered in
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
What is the deadline for Solidion Technology (STI) to regain Nasdaq compliance?
What is the minimum share price requirement for STI to maintain Nasdaq listing?
When did STI first receive the Nasdaq non-compliance notice?
What actions can STI take to regain Nasdaq compliance by May 2025?
