Solidion Technology, Inc. (STI), a battery technology solutions provider, Thursday received a Nasdaq notice for non-compliance with the minimum bid price requirement, as its stock remained below $1.00 for 30 consecutive business days.
Initially given until January 28, 2025, to meet the requirement, the company failed to do so and was notified of a potential delisting.
Following an appeal, Nasdaq's Hearings Panel granted an extension, allowing STI until May 16, 2025, to regain compliance, potentially through a reverse stock split, with a final deadline set for May 30, 2025.
On Thursday, STI closed at $0.1313, down 18.55%, and is currently trading at $0.1258 in after-hours, reflecting a further 4.19% decline on the Nasdaq Global Market.
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