STR : Oct 6, 2023 - Filing of Certificate of Dissolution

STR Holdings, Inc. Announces Filing of Cer ficate of Dissolu on

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STR Holdings, Inc. (STRI or the "Company") files Cer ficate of

Dissolu on with DE Secretary of State.

STR Holdings, Inc. (OTCMKTS:STRI)

TOLLAND, CT, USA, October 6, 2023 /EINPresswire.com/ ‐‐ As previously disclosed, the Company's Plan of Complete Liquida on and Dissolu on (the "Plan") was adopted on September 8, 2023 by the holders of the requisite number of the outstanding shares of the Company's Common Stock by wri en consent in lieu of a special mee ng.

As contemplated by the Plan, the Company filed a Cer ficate of Dissolu on on October 5, 2023 with the Delaware Secretary of State dissolving the Company with an effec ve me of 5:00 p.m. Eastern Time on October 16, 2023 (the "Effec ve Time"). Under Plan and applicable law, as of the Effec ve Time, the stock transfer books and records of the Company will be closed, such that the Company's shares of Common Stock will no longer be assignable or transferable on the books of the Company (except by will, intestate succession or opera on of law or upon dissolu on of any stockholder or its successors). At that

me, the Company's common stock should also have ceased trading on the OTC markets or any other trading pla orm, as no such trades will be recognized by the Company or its transfer agent.

Following the filing of the Cer ficate of Dissolu on, the Company will be able to commence the formal dissolu on process, which the Company plans to conduct under the supervision of the Delaware Chancery Court. The Company intends to distribute, pro rata in one or more distribu ons, its remaining cash to its stockholders, to the extent that such cash has been determined legally available for such distribu on, and such distribu on is approved by the Delaware Chancery Court. Cash is generally considered legally available for distribu on once all poten al liabili es have been paid, or otherwise provided for, in full. Such distribu ons will be made to the stockholders of record as of the Effec ve Time. Stockholders of record will not be required to take any ac on to par cipate in a distribu on.

The amount and ming of distribu ons, if any, will depend upon and could be affected, delayed or eliminated by, among other things, (i) the meline for important li ga on against us, the ming of which is beyond the Company's ability to control, (ii) the amount and ming of claim se lements and reserves set aside to address creditors and con ngent liabili es, (iii) the expenses incurred by the Company, and (iv) the ming and net proceeds received on the disposi on of its remaining non‐cash assets. As previously reported the Company con nues to be involved with ongoing li ga on in India and Spain. A creditor could also seek an injunc on against, or otherwise seek to interfere with the making of distribu ons to the Company's stockholders, on the grounds that the amounts to be distributed were needed to provide for the payment of the Company's liabili es and expenses. Any such ac ons could delay, reduce or eliminate the amount available for distribu on to the Company's stockholders. The Company cannot ensure that any funds will become available for distribu on or be distributed to its stockholders.

The Company reaffirms that its es mate of funds that will be legally available for distribu on remains in the range of $0 to $5 million. As of the date of this press release, the Company has 20,152,029 shares of common stock issued and outstanding.

Forward‐Looking Statement Disclaimer: This press release contains forward‐looking statements within the meaning of the Private Securi es Li ga on Reform Act of 1995. Such statements are subject to inherent risks and uncertain es, including statements regarding the Company's proposed winding down of its opera ons and the amount and ming of distribu ons, if any, to its stockholders. The Company is

currently unable to predict the amount or ming of such distribu ons, if any. The amount and ming of
such distribu	ons will depend on and could be affected, delayed or eliminated by any number of risks
and uncertain	es, many of which are not in the control of the Company, including without limita on

those discussed in this press release. The Company undertakes no obliga on to publicly update any forward‐looking statement contained in this press release, whether as a result of new informa on, future developments or otherwise, except as may be required by law.