Solidion Technology, Inc. (“Solidion” or the “Company”) (Nasdaq:
STI), an advanced battery technology solutions provider, today
announced that the Company has been added to the broad-market
Russell 3000® Index, effective as of market open today as part of
the Russell Index’s annual reconstitution.
The annual Russell US Indexes reconstitution
captures the 4,000 largest US stocks as of April 30, 2024, ranking
them by total market capitalization. Membership in the US all-cap
Russell 3000® Index, which remains in place for one year, means
automatic inclusion in the large-cap Russell 1000 Index or
small-cap Russell 2000 Index as well as the appropriate growth and
value style indexes. FTSE Russell determines membership for its
Russell indexes primarily by objective, market-capitalization
rankings, and style attributes.
“The addition to the Russell Index is a
noteworthy milestone for Solidion, its employees and shareholders,”
said Solidion CEO Jaymes Winters. “Solidion’s accomplishments in
the battery space to-date, as well as our ambitions for the future,
are large. We look forward to engaging with investors who share our
ambitions, and believe our inclusion in the Russell Index, and the
awareness it will spur, will give us more opportunity to do
so.”
Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. According to the data
as of the end of December 2023, about $10.5 trillion in assets are
benchmarked against the Russell US indexes, which belong to FTSE
Russell, a prominent global index provider.
Cautionary Note Regarding
Forward-Looking Statements:
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Solidion Technology Inc., (NASDAQ: STI) (the
“Company,” "Solidion,” “we,” “our” or “us”) desires to take
advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The
words "forecasts" "believe," "may," "estimate," "continue,"
"anticipate," "intend," "should," "plan," "could," "target,"
"potential," "is likely," "expect" and similar expressions, as they
relate to us, are intended to identify forward-looking statements.
We have based these forward-looking statements primarily on our
current expectations and projections about future events and
financial trends that we believe may affect our financial
condition, results of operations, business strategy, and financial
needs. Important factors that could cause actual results to differ
from those in the forward-looking statements include (i) the lack
of a third party valuation in determining to pursue the business
combination, (ii) the effect of the announcement or closing of the
business combination on Solidion’s business relationships,
operating results and business generally, (iii) risks that the
business combination disrupts current plans and operations of
Solidion and potential difficulties in Solidion employee retention
as a result of the transaction, (iv) the outcome of any legal
proceedings that may be instituted against Honeycomb Battery
Company or against Nubia Brand International Corp. (“Nubia”)
related to the transaction, (v) the ability to maintain the listing
of Solidion’s securities on a national securities exchange, (vi)
volatility of the price of Solidion’s securities due to a variety
of factors, including changes in the competitive and highly
regulated industries in which Solidion operates, variations in
operating performance across competitors, changes in laws and
regulations affecting Solidion’s business and changes in the
combined capital structure, (vi) the ability to implement business
plans, forecasts, and other expectations after the completion of
the transaction, and identify and realize additional opportunities,
and (vii) the risk of downturns and a changing regulatory landscape
in the highly competitive EV battery industry, and the Risk Factors
contained within our filings with the SEC, including Nubia’s
definitive proxy statement filed with the SEC on November 8, 2023.
Any forward-looking statement made by us herein speaks only as of
the date on which it is made. Factors or events that could cause
our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. We undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
About Solidion Technology,
Inc.
Headquartered in Dallas, Texas with pilot
production facilities in Dayton, Ohio, Solidion’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. Recognized as a global IP leader in both the
high-capacity anode and the high-energy solid-state battery,
Solidion is uniquely positioned to offer two lines of battery
products: (i) advanced anode materials (ready for production
expansion); and (ii) three classes of solid-state batteries,
including Silicon-rich all-solid-state lithium-ion cells (Gen 1),
anodeless lithium metal cells (Gen 2), and lithium-sulfur cells
(Gen 3), all featuring an advanced polymer- or polymer/inorganic
composite-based solid electrolyte that is process-friendly.
Solidion’s solid-state batteries can be manufactured at scale using
current lithium-ion cell production facilities; this feature
enables fastest time-to-market of safe solid-state batteries.
Solidion batteries are designed to deliver significantly extended
EV range, improved battery safety, lower cost per KWh, fastest
time-to-market, and next-gen cathodes (potential to replace
expensive nickel and cobalt with sulfur (S) and other more abundant
elements).
About FTSE Russell
FTSE Russell is a leading global provider of
benchmarking, analytics, and data solutions for investors, giving
them a precise view of the market relevant to their investment
process. A comprehensive range of reliable and accurate indexes
provides investors worldwide with the tools they require to measure
and benchmark markets across asset classes, styles, or
strategies.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
For over 30 years, leading asset owners, asset managers, ETF
providers and investment banks have chosen FTSE Russell indexes to
benchmark their investment performance and create ETFs, structured
products, and index-based derivatives.
FTSE Russell is focused on applying the highest
industry standards in index design and governance, employing
transparent rules-based methodology informed by independent
committees of leading market participants. FTSE Russell fully
embraces the IOSCO Principles, and its Statement of Compliance has
received independent assurance. Index innovation is driven by
client needs and customer partnerships, allowing FTSE Russell to
continually enhance the breadth, depth and reach of its
offering.
FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit
https://www.lseg.com/en/ftse-russell.
Solidion Technology Inc.
Contacts
For Investors: ir@solidiontech.com
For Media: solidionPR@icrinc.com
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