Solidion Technology, Inc. Secures $4 Million in Funding
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Solidion Technology, Inc. Secures $4 Million in Funding
Solidion Technology, Inc. has recently made significant strides in its financial landscape by entering into a securities purchase agreement aimed at raising nearly $4 million. This private placement is a notable move for the company, which specializes in advanced battery technology solutions. The funds from this placement are intended for general working capital and administrative purposes, marking a key step forward for the company.
Details of the Private Placement
The securities purchase agreement allows Solidion to issue approximately 12,217,468 units and pre-funded units. A notable aspect of this arrangement is that the pre-funded units will carry the same purchase price as the other units, adjusted for a negligible exercise price of $0.0001. Each unit will contain one share of common stock or pre-funded warrant, along with two common warrants exercisable for one share of common stock valued at $0.3274 per share, and additional warrants with an exercise price of $0.0001.
Warrant Features and Terms
Investors will find that the common warrants associated with these units are notable. They will be immediately exercisable upon issuance and have a term extending up to 5.5 years from the date of stockholder approval. Importantly, the number of securities issued will be subject to adjustments as detailed further in regulatory filings.
Role of Advisors
For this offering, EF Hutton has taken the role of exclusive placement agent, ensuring that the process is both smooth and efficient. Legal implications of the private placement are being overseen by Loeb & Loeb LLP for Solidion, while Sichenzia Ross Ference Carmel LLP provides counsel to the placement agent.
Regulatory Considerations
It is essential to note that the shares of common stock and associated warrants noted in this announcement have not been registered under the Securities Act of 1933. Consequently, they cannot be offered or sold in the U.S. unless they are registered or qualify for an exemption. The placement is exclusively offered to accredited investors. Solidion has committed, through a registration rights agreement, to file for registration statements with the SEC covering the potential resale of these securities.
About Solidion Technology, Inc.
Located in Dallas, Texas, Solidion Technology, Inc. operates pilot production facilities in Dayton, Ohio. The company focuses on developing and manufacturing advanced battery materials and components, especially tailored for energy storage systems as well as electric vehicles. Their innovative portfolio includes advanced anode materials ready for production and solid-state batteries across three generations, enhancing energy efficiency and safety.
Future Initiatives and Impact
The advancement offered by Solidion’s solid-state batteries has the potential to revolutionize energy storage and electric vehicle design. These batteries are conceived from advanced polymer and composite materials to facilitate safe, scalable production — utilizing existing lithium-ion cell factories. This approach not only promises faster time-to-market but emphasizes affordability, longer-lasting EV range, and significant improvements in battery safety.
Contact Information
For inquiries related to investments, individuals may contact Solidion at their investor relations email, provided for communication. Similarly, media professionals can reach the company through the designated press contact email.
Frequently Asked Questions
What is Solidion Technology, Inc. known for?
Solidion Technology, Inc. is recognized for its innovative work in advanced battery technology and components, particularly for energy storage and electric vehicles.
How much did Solidion raise in the recent private placement?
The company raised approximately $4 million through a private placement aimed at supporting its operational goals.
What type of securities are being issued?
Solidion is issuing units and pre-funded units which include shares of common stock and various warrants, each with specific exercise prices.
Who is managing the private placement?
EF Hutton is operating as the exclusive placement agent for the offering, ensuring the legal and financial aspects are effectively handled.
How does Solidion plan to utilize the funds from this placement?
The net proceeds from the private placement are primarily intended for general working capital and administrative expenditures, supporting the overall governance of the company.
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