Solidion Technology, Inc. sets price for $3.85M Private Placement deal.

March 14, 2024


  • Solidion Technology, Inc. has announced a private placement to raise approximately $3.85 million in cash proceeds.
  • The company will issue units and pre-funded units, with the net proceeds intended for general working capital and administrative purposes.

Solidion Technology, Inc. has entered into a securities purchase agreement with institutional investors to raise approximately $3.85 million in cash proceeds through a private placement. The Company will issue 5,133,332 units and pre-funded units, with each unit consisting of one share of common stock, two common warrants, and one common warrant for the purchase of additional shares determined on the Reset Date. The net proceeds from the private placement will be used primarily for general working capital and administrative purposes.

EF Hutton is acting as the exclusive placement agent for the offering, with legal counsel provided by Benesch Friedlander Coplan & Aronoff LLP and Loeb & Loeb LLP for the Company, and Winston & Strawn LLP for the placement agent. The securities offered have not been registered under the Securities Act of 1933, and are solely offered to accredited investors.

Headquartered in Dallas, Texas, Solidion Technology, Inc. is focused on manufacturing battery materials and components, as well as developing and producing next-generation batteries for energy storage systems and electric vehicles. The company’s solid-state batteries are designed to offer extended EV range, improved safety, lower cost per KWh, and faster time-to-market.

However, investors should be cautious as this press release contains forward-looking statements, and actual results may differ due to various factors such as valuation, market volatility, legal proceedings, and regulatory changes. The Company has agreed to file registration statements with the SEC to facilitate the resale of the securities.