Nubia Brand enters forward purchase, non-redemption deals; only 23,586 shares left after massive redemptions

Solidion Technology Inc.

Forward Purchase Agreement with Meteora entities for up to 9.9% of shares post-business combination; includes prepayment and optional early termination.
Non-Redemption Agreement: investors agree not to redeem up to 9.99% of shares; receive redemption price less $4.00 per share at closing.
Sponsor Letter Agreement: NUBI pays Mach FM Acquisitions $7.25M to assume transaction fees after closing of the merger.
As of Dec 13, 2023, 3,896,031 shares redeemed at ~$10.94 each; only 23,586 shares remain outstanding after the special meeting.
Subscription Agreements with Forward Purchase Investors for share purchase at closing; proceeds drawn from trust account.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Solidion Technology Inc. entered into Forward Purchase Agreement with Solidion Technology, Inc. valued at Forward Purchase Agreement for purchase of up to 9.9% of Class A ordinary shares (effective 2023-12-13).

Action: entry
Agreement: atm program
Counterparty: Solidion Technology, Inc.
Value: Forward Purchase Agreement for purchase of up to 9.9% of Class A ordinary shares
Effective: 2023-12-13

Exact text from the filing

On December 13, 2023, NUBI entered into an agreement with (i) Meteora Capital Partners, LP (“MCP”), (ii) Meteora Select Trading Opportunities Master, LP (“MSTO”), and (iii) Meteora Strategic Capital, LLC (“MSC” and, collectively with MCP and MSTO, “Seller” or “Forward Purchase Investors”) (the “Forward Purchase Agreement”).

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154 material agreements filed in the last 30 days. Browse all material agreements →

Solidion Technology Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-095232

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