Solidion Technology raises $3.85M in private placement; issues units with warrants

Solidion Technology Inc.

Gross proceeds of ~$3.85M from private placement of 5,133,332 units at $0.75 per unit.
Each unit includes one common share (or pre-funded warrant), two Series A warrants ($0.75 exercise), and one Series B warrant with reset floor of $0.15.
Net proceeds will be used for working capital and general corporate purposes.
Certain stockholders entered into a 6-month lock-up agreement and a voting agreement to approve warrant issuances.
EF Hutton acted as exclusive placement agent for the offering.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Solidion Technology Inc. entered into Securities Purchase Agreement with certain institutional investors valued at aggregate gross proceeds of approximately $3.85 million (effective 2024-03-13).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: aggregate gross proceeds of approximately $3.85 million
Effective: 2024-03-13

Exact text from the filing

On March 13, 2024, Solidion Technology, Inc. (the “ Company ”) entered into a private placement transaction (the “ Private Placement ”), pursuant to a Securities Purchase Agreement (the “ Subscription Agreement ”) with certain institutional investors (the “ Purchasers ”) for aggregate gross proceeds of approximately $3.85 million, before deducting fees to the placement agent and other expenses payable by the Company in connection with the Private Placement.

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Solidion Technology Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-023135

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