Solidion Technology Continues Move after Closing $3.85 M Private Placement

March 18, 2024

DENVER, Colo., Mar 18, 2024 (247marketnews.com)- Solidion Technology (NASDAQ:STI) closed a private placement, last week, in which EF Hutton acted as exclusive placement agent for the offering that was expected to raise approximately $3.85 million in aggregate cash proceeds.

The Dallas headquartered production company’s core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems and electric vehicles for ground, air, and sea transportation, which are designed to deliver significantly extended EV range, improved battery safety, lower cost per KWh, fastest time-to-market, and next-gen cathodes, to potentially replace expensive nickel and cobalt with sulfur (S) and other more abundant elements.

STI is trading at $1.74, up $1.12 (+64.94%), on 6.5M shares.

Its 52-week range is $0.371 to $13.85 and has an upcoming gap to $4.

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