Solidion Technology, Inc. Announces Plans for Reverse Stock Split of its Common Stock
DALLAS, TX, UNITED STATES, May 7, 2025 /EINPresswire.com/ -- Solidion Technology, Inc. (Nasdaq: STI) (the “Company”), a global leader in ultrahigh energy density batteries, today announced that it will implement a 1-for-50 reverse stock split (the “Reverse Stock Split”) of the issued shares of the Company's common stock, par value $0.0001 per share (“Common Stock”). The Reverse Stock Split was approved by the Company's stockholders at the Company's Special Meeting of Stockholders held on June 3, 2024, with the final ratio subsequently determined by the Company's Board of Directors on April 25, 2025. One of the primary goals of the Reverse Stock Split is to increase the per-share market price of the Company's common stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Stock Market LLC (“Nasdaq”).
The Reverse Stock Split will take effect at market open on May 12, 2025, and the Common Stock will trade on a post-split basis on Nasdaq under the Company’s existing trading symbol “STI,” upon Nasdaq’s approval. The new CUSIP number following the Reverse Stock Split will be 834212 201.
The Reverse Stock Split will be effected by the Company filing a certificate of amendment to its certificate of incorporation with the Secretary of State of the State of Delaware. At the effective time of the Reverse Stock Split, every 50 shares of the Company's issued and outstanding Common Stock will be automatically reclassified and combined into 1 share of Common Stock. This will reduce the number of issued and outstanding shares of Common Stock from approximately 135,845,569 shares to approximately 2,716,912 shares. Proportionate adjustments will be made to the number of shares of Common Stock available for issuance under the Company's equity incentive plan, the number of shares underlying, and the exercise prices of, outstanding equity awards under such plan and outstanding warrants, in accordance with their respective terms.
The Company will not issue fractional shares to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split. In lieu of the issuance of fractional shares, the Company shall make a cash payment equal to the fraction of which such stockholder would otherwise be entitled multiplied by the closing price per share as reported by Nasdaq (as adjusted to give effect to the Reverse Stock Split) on the date of the effective time of the Reverse Stock Split. Each stockholder’s percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares. The rights and privileges of the holders of shares of Common Stock will be substantially unaffected by the Reverse Stock Split. The Reverse Stock Split has no effect on the par value of the Common Stock or authorized shares of Common Stock.
Stockholders who are holding their shares in electronic form at brokerage firms do not need to take any action, as the effect of the Reverse Stock Split will automatically be reflected in their brokerage accounts. Stockholders holding paper certificates may (but are not required to) send the certificates to the Company’s transfer agent and registrar, Continental Stock Transfer & Trust Company will issue a new stock certificate reflecting the Reverse Stock Split to each requesting stockholder.
About Solidion Technology, Inc.
Headquartered in Dallas, Texas with pilot production facilities in Dayton, Ohio, the Company’s 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. The Company 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.
Forward-Looking Statements
Certain information contained in this press release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as “will,” “would,” “may,” “intends,” “potential,” and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. These forward-looking statements, including those regarding the Reverse Stock Split and authorized share reduction and the timing thereof; the impact of the Reverse Stock Split and authorized share reduction on stockholders, the potential impact of the Reverse Stock Split on the Company's share price, and the potential for the Company to regain compliance with the minimum bid price requirement for continued listing on Nasdaq, are subject to a number of risks, uncertainties and assumptions, including market and other conditions. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The forward-looking statements contained in this press release speak only as of the date of this press release and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this press release, unless required by law.
The Reverse Stock Split will take effect at market open on May 12, 2025, and the Common Stock will trade on a post-split basis on Nasdaq under the Company’s existing trading symbol “STI,” upon Nasdaq’s approval. The new CUSIP number following the Reverse Stock Split will be 834212 201.
The Reverse Stock Split will be effected by the Company filing a certificate of amendment to its certificate of incorporation with the Secretary of State of the State of Delaware. At the effective time of the Reverse Stock Split, every 50 shares of the Company's issued and outstanding Common Stock will be automatically reclassified and combined into 1 share of Common Stock. This will reduce the number of issued and outstanding shares of Common Stock from approximately 135,845,569 shares to approximately 2,716,912 shares. Proportionate adjustments will be made to the number of shares of Common Stock available for issuance under the Company's equity incentive plan, the number of shares underlying, and the exercise prices of, outstanding equity awards under such plan and outstanding warrants, in accordance with their respective terms.
The Company will not issue fractional shares to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split. In lieu of the issuance of fractional shares, the Company shall make a cash payment equal to the fraction of which such stockholder would otherwise be entitled multiplied by the closing price per share as reported by Nasdaq (as adjusted to give effect to the Reverse Stock Split) on the date of the effective time of the Reverse Stock Split. Each stockholder’s percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the treatment of fractional shares. The rights and privileges of the holders of shares of Common Stock will be substantially unaffected by the Reverse Stock Split. The Reverse Stock Split has no effect on the par value of the Common Stock or authorized shares of Common Stock.
Stockholders who are holding their shares in electronic form at brokerage firms do not need to take any action, as the effect of the Reverse Stock Split will automatically be reflected in their brokerage accounts. Stockholders holding paper certificates may (but are not required to) send the certificates to the Company’s transfer agent and registrar, Continental Stock Transfer & Trust Company will issue a new stock certificate reflecting the Reverse Stock Split to each requesting stockholder.
About Solidion Technology, Inc.
Headquartered in Dallas, Texas with pilot production facilities in Dayton, Ohio, the Company’s 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. The Company 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.
Forward-Looking Statements
Certain information contained in this press release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that are difficult to predict. Words such as “will,” “would,” “may,” “intends,” “potential,” and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. These forward-looking statements, including those regarding the Reverse Stock Split and authorized share reduction and the timing thereof; the impact of the Reverse Stock Split and authorized share reduction on stockholders, the potential impact of the Reverse Stock Split on the Company's share price, and the potential for the Company to regain compliance with the minimum bid price requirement for continued listing on Nasdaq, are subject to a number of risks, uncertainties and assumptions, including market and other conditions. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. The forward-looking statements contained in this press release speak only as of the date of this press release and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this press release, unless required by law.
Investor Relations
Solidion Technology Inc
+15037505681 ext.
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