Solidion reports $29.7M net loss in Q1; receives Nasdaq delinquency notice; shareholders approve reverse split

Solidion Technology Inc.

Q1 2024 net loss $29.7M included $8.2M change in derivative liabilities and $17.8M from private placement issuance.
Operating loss $3.8M; company cites challenging market conditions but progress toward commercialization.
Received Nasdaq delinquency letter on May 31 for delayed Q1 10-Q filing; 60 days to submit compliance plan.
Special meeting on June 3 approved reverse stock split (1:10-1:50) and warrant share issuance over 20% of outstanding stock.
Shares continue trading on Nasdaq Global Market under STI; no immediate delisting effect.

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