Solidion Technology Faces Delisting Notice
Ticker: STI · Form: 8-K · Filed: Aug 7, 2024 · CIK: 1881551
Sentiment: bearish
Topics: delisting, listing-standards, compliance
TL;DR
Solidion's in hot water with the exchange, might get delisted.
AI Summary
Solidion Technology Inc. (formerly Nubia Brand International Corp.) filed an 8-K on August 7, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential transfer of listing, with the earliest event reported as August 1, 2024. The company is incorporated in Delaware and its principal executive offices are located in Dallas, TX.
Why It Matters
This filing signals potential issues with Solidion Technology's compliance with stock exchange listing requirements, which could impact its stock's tradability and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant red flag for investors, indicating potential severe financial or operational distress.
Key Players & Entities
- Solidion Technology Inc. (company) — Registrant
- Nubia Brand International Corp. (company) — Former company name
- August 1, 2024 (date) — Earliest event reported date
- August 7, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- Dallas, TX (location) — Principal executive offices
FAQ
What specific listing rule or standard has Solidion Technology Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Solidion Technology Inc. has failed to satisfy, only that a notice has been issued.
What is the potential consequence of failing to satisfy a continued listing rule?
Failure to satisfy a continued listing rule can lead to the transfer of listing or delisting from the stock exchange.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on August 1, 2024.
What was Solidion Technology Inc.'s former name?
Solidion Technology Inc.'s former name was Nubia Brand International Corp.
Where are Solidion Technology Inc.'s principal executive offices located?
Solidion Technology Inc.'s principal executive offices are located at 13344 Noel Road, Suite 1100, Dallas, TX 75240.
Filing Stats: 781 words · 3 min read · ~3 pages · Grade level 13.7 · Accepted 2024-08-07 16:30:11
Key Financial Figures
- $0.0001 — h registered Common Stock, par value $0.0001 per share STI The Nasdaq Stock Mark
- $1.00 — Company's common stock has fallen below $1.00 per share for 30 consecutive business d
Filing Documents
- ea0210811-8k_solidion.htm (8-K) — 26KB
- 0001213900-24-066143.txt ( ) — 197KB
- sti-20240801.xsd (EX-101.SCH) — 3KB
- sti-20240801_lab.xml (EX-101.LAB) — 33KB
- sti-20240801_pre.xml (EX-101.PRE) — 22KB
- ea0210811-8k_solidion_htm.xml (XML) — 4KB
01. Notice
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 1, 2024, Solidion Technology, Inc. (the " Company ") received notice (the " Notice ") from the Listing Qualifications staff of the Nasdaq Stock Market LLC (" Nasdaq ") that, because the closing bid price for the Company's common stock has fallen below $1.00 per share for 30 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). The Notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Global Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has 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. If the Company does not regain compliance by January 28, 2025, the Company may be eligible for an additional 180 calendar day grace period if it applies to transfer the listing of its common stock to the Nasdaq Capital Market. To qualify, the Company would be required to meet the continued listing requirement for the market value of its publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and provide written notice of its intention to cure the minimum bid price deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Nasdaq staff determines that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible for such additional compliance period, Nasdaq will provide notice that the Company's common stock will be subject t
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 7, 2024 SOLIDION TECHNOLOGY, INC. By: /s/ Jaymes Winters Name: Jaymes Winters Title: Chief Executive Officer 2