Highest-materiality recent filing
Solidion Technology raises $35M in private placement at $15/share for battery tech
Gross proceeds ~$34.99M from 2,333,000 shares/pre-funded warrants; net proceeds ~$32M after 7% agent fee and expenses.
Solidion Technology restates FY2024 financials over warrant accounting error; non-reliance
Understated non-cash derivative loss by approx $5.7M for FY2024 due to failure to remeasure warrants before exercise events.
Solidion expects FY2025 net loss $30M-$38M; cash drops to ~$200k
Preliminary net loss for FY2025 estimated at $30M-$38M, up from $25.9M in FY2024, due to non-cash derivative valuation charges.
Solidion restates Q2 2025 financials; warrant fair value understated by $2.26M
Non-reliance on interim financials for period ended June 30, 2025 due to warrant and EPS errors.
Madison Bond LLC and Bayside Project LLC converted 3,447,957 Series C/D warrants into common stock at 1:1, now hold 47.5% of outstanding shares.
Solidion receives Nasdaq delisting notice for MVPHS noncompliance; 180-day cure period
Received Nasdaq notice on April 16, 2025 for failing minimum Market Value of Publicly Held Shares (MVPHS) under Rule 5450(b)(2)(C).
Solidion Technology restates Q1-Q3 2024 financials due to $2.8M convertible note cost omission
On April 11, 2025, the company determined quarterly financials for March 31, June 30, and Sept 30, 2024 require restatement and should no longer be relied upon.
Solidion Technology receives Nasdaq noncompliance notice; faces potential delisting
Notice cites failure to meet minimum MVLS requirement (Rule 5450(b)(2)(A)).
Solidion Technology granted Nasdaq extension to regain minimum bid price compliance by May 30, 2025
Nasdaq Hearings Panel granted extension until May 16, 2025 to effect reverse stock split if needed.
Solidion receives Nasdaq delisting notice for bid price; intends to appeal by Feb 5
Nasdaq Staff determined Solidion failed to regain compliance with $1.00 minimum bid price rule.
Solidion amends forward purchase deal, settles Meteora lawsuit, issues ~17M shares
Amendment adds 2.85M shares as share consideration; allows $500K incremental prepayment shortfall requests.
Solidion receives two Nasdaq deficiency notices for market value rules
MVPHS below $15M for 30 consecutive business days as of Aug 27, 2024.
Issued ~12.2M units at $0.3274/unit, each consisting of 1 share (or pre-funded warrant), 2 Series C warrants and 1 Series D warrant.
Solidion Q2 net income $22M ($0.23 EPS) on derivative gain; core ops loss $2.9M; director resigns
Net income of $22.0M ($0.23 EPS) includes $25.0M gain from change in derivative liabilities.
Solidion Technology receives Nasdaq minimum bid price deficiency notice
Nasdaq staff notified Solidion on Aug 1, 2024 that stock bid price closed below $1.00 for 30 consecutive days.
Q1 2024 net loss $29.7M included $8.2M change in derivative liabilities and $17.8M from private placement issuance.
Solidion dismisses Marcum, appoints Deloitte; Marcum flagged going concern & material weakness
On April 19, 2024, dismissed Marcum as auditor, effective immediately; Deloitte engaged for FY2024.
Solidion Technology raises $3.85M in private placement; issues units with warrants
Gross proceeds of ~$3.85M from private placement of 5,133,332 units at $0.75 per unit.
Solidion Technology completes merger with Honeycomb Battery; begins trading under STI
Merger consideration $700M minus $2M tax lien; HBC stockholders received 69.8M shares.
Solidion Technology completes Honeycomb merger; Nasdaq delists warrants for insufficient holders
Business combination with Honeycomb Battery closed Feb 2, 2024; combined entity renamed Solidion Technology Inc.
Stockholders approve business combination with Honeycomb Battery; name change to Solidion Technology
Approved merger with Honeycomb Battery Company; 6,359,135 votes for, 1,100 against.
Nubia Brand stockholders approve extension of business combination deadline to March 15, 2024
Shareholders voted to extend deadline to complete a business combination from Dec 15, 2023 to Mar 15, 2024.
Nubia holders approve Honeycomb Battery merger; 99.4% of public shares redeemed
Shareholders voted 70.4% in favor to approve business combination with Honeycomb Battery Company at Dec 14 special meeting.
Forward Purchase Agreement with Meteora entities for up to 9.9% of shares post-business combination; includes prepayment and optional early termination.
Nubia Brand International receives Nasdaq deficiency notice for failing minimum total holders rule
Received Nasdaq notice on Oct 9, 2023 for non-compliance with minimum 400 total holders (Nasdaq Rule 5450(a)(2)).
Nubia extends merger deadline with Honeycomb to Dec 14; Nasdaq warns MVLS below $50M
Amended Merger Agreement extends termination date from Sept 15, 2023 to Dec 14, 2023.
Transaction valued at ~$740M pro forma enterprise value based on $10.00/share and 77.1M pro forma shares.
Nubia Brand International shareholders approve extension to December 15, 2023; 8.4M shares redeemed
Shareholders approved extension of business combination deadline from June 15, 2023 to December 15, 2023, with up to six monthly extensions requiring deposits of $125,000 or $0.045 per share each.
Merger consideration: 70M shares of common stock to Honeycomb shareholders at closing, plus up to 22.5M earnout shares tied to stock price thresholds ($12.50, $15.00, $25.00).
IPO of 12.35M units at $10.00 each, including partial over-allotment; gross proceeds $123.5M.
On August 30, 2024, Yang Shao-Horn notified the Board of Directors (the “Board”) of Solidion Technology Inc. (the “Company”) of her resignation as a member of the Board, effective as of August 30th, 2024.
the Board unanimously appointed John Davis, a current Board member, as an independent member of the Board to replace Ms. Shao-Horn in such capacity and on all committees on which she previously served.
On August 12, 2024, James Vance notified the Board of Directors (the “Board”) of the Company of his resignation as a member of the Board, effective as of such date.
the Board appointed Jaymes Winters, the Company’s Chief Executive Officer and a member of the Board since June 14, 2021, to serve as Chairperson of the Board.
On May 12, 2023, Alexander Monje notified the Board of Directors (the “Board”) of Nubia Brand International Corp. (the “Company”) of his resignation as the Chairperson of the Board and as a member of the Board, effective as of May 12, 2023.
Max materiality 1.00 · Median 0.65 · Most common event other_material