Solidion Technology Announces Strategic Equity Restructuring; Converts 3.4 Million Warrants to Common Stock in Private Placement with Long-Term Investors
Reuters
Oct 08
Solidion Technology Announces Strategic Equity Restructuring; Converts 3.4 Million Warrants to Common Stock in Private Placement with Long-Term Investors
Solidion Technology Inc. (Nasdaq: STI), an advanced battery technology solutions provider, has announced a major restructuring of its previous $4 million equity financing. As part of the deal, long-term investors Madison Bond LLC and Bayside Project LLC have converted a total of 3.4 million Pre-Funded Warrants into common stock, which they have committed to hold for at least one year. This move eliminates all Series C and D warrants from the August financing, removing a significant potential source of dilution and strengthening the company's balance sheet by eliminating approximately $10 million in derivative liabilities. Solidion says this restructuring enhances shareholder value and positions the company for long-term growth as it moves towards commercialization with large-scale customers.
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