Solidion Technology, an advanced battery technology solutions provider, has announced that it has entered into a securities purchase agreement with a new institutional investor for the purchase and sale of 2,333,000 shares of common stock (or common stock equivalents) in a private placement priced above market under Nasdaq rules. The offering is expected to result in gross proceeds of $35 million, before deducting offering expenses.
The Company intends to use the net proceeds from the offering to support the commercialization of its patented Extreme-Climate Battery technology, fulfill customer demand, expand inventory, advance the building and testing of prototypes, and for working capital and general corporate purposes.
Earlier this month, Solidion Technology announced patented extreme-climate battery technology targeting aerospace and AI applications.
