Business
Soluna Secures Nasdaq's Approval for 180-Day Extension to Meet Bid Price Requirement
ALBANY, N.Y.--(BUSINESS WIRE)-- Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a
About this update from Soluna Holdings, Inc.
[{"type":"text","content":" ALBANY, N.Y.--(BUSINESS WIRE)--\nSoluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for Bitcoin mining and other intensive computing applications, announced that the Company received written notification from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”), granting the Company's request for a 180-day extension to regain compliance with Nasdaq's minimum per share bid price requirement.\n\n\nBy letter dated December 21, 2022, NASDAQ notified Soluna Holdings, Inc. that it was not in compliance with the $1 minimum per share bid requirement and pursuant to NASDAQ rules was given 180 calendar days, or until June 19, 2023, to meet this requirement.\n\n\nAlthough the Company was unable to meet the minimum per share bid requirement within the initial 180-day cure period, NASDAQ’s listing compliance staff informed the Company by letter dated June 20, 2023, that it was eligible for an additional 180-day calendar period, or until December 18, 2023 to comply with the requirement.\n\n\nThe Company intends to take all reasonable measures available to regain compliance under the Nasdaq Listing Rules and remain listed on Nasdaq.\n\n\nSafe Harbor Statement\n\n\nThis announcement contains forward-looking statements. These statements are made under the \"safe harbor\" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as \"will,\" \"expects,\" \"anticipates,\" \"future,\" \"intends,\" \"plans,\" \"believes,\" \"estimates,\" \"confident\" and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the Securities and Exchange Commission. All informat...