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Solidion Technology Inc. Granted Compliance Extension By NASDAQ

1. STI has fallen below $1.00 per share for 30 days. 2. Company received a notice for potential delisting from Nasdaq. 3. STI granted an extension to regain compliance until May 16, 2025. 4. A reverse stock split may be necessary to comply with Nasdaq rules. 5. Company specializes in advanced battery technologies and holds over 550 patents.

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FAQ

Why Bearish?

STI's failure to maintain minimum bid price typically indicates financial distress, leading to potential sell-offs. Historical instances, such as companies like J.C. Penney and Sears facing delisting, significantly impacted their stock prices negatively.

How important is it?

Market perception of STI is likely to decline as compliance risk looms, affecting investor confidence. The company’s technological potential can't outweigh the immediate concern about its listing status.

Why Short Term?

The impending deadline of May 16, 2025, adds immediate urgency, leading to volatility and potential downward pressure on the stock price. Similar cases have shown that rapid compliance action needs to happen within the upcoming weeks.

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Company will take necessary steps to maintain listing DALLAS, March 6, 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 August 7, 2024, Solidion Technology, Inc. (the "Company") received a notice from the Listing Qualifications staff (the "Staff") of the Nasdaq Stock Market LLC ("Nasdaq") that because the closing bid price for the Company's common stock had fallen below $1.00 per share for 30 consecutive business days, the Company no longer complied with the minimum bid price requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule"). 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 $1.00 per share for a minimum of 10 consecutive business days prior to January 28, 2025. 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. For more information, please visit www.solidiontech.com or contact Investor Relations. 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. SOURCE Solidion Technology, Inc.

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