Solidion Technology Inc. (NASDAQ: STI), an advanced battery technology solutions provider, announced the closing of its previously disclosed private placement, generating gross proceeds of approximately $35 million. The offering involved the sale of 2.33 million shares of common stock or common stock equivalents, priced above market under Nasdaq rules.
The company plans to use the net proceeds to support commercialization of its patented Extreme-Climate Battery technology, fulfill customer demand, expand inventory, advance prototype development and testing, and provide working capital for general corporate purposes. Titan Partners, a division of American Capital Partners, served as sole placement agent for the offering.
Solidion Technology holds a portfolio of over 385 patents, covering innovations such as high-capacity, silane-gas-free and graphene-enabled silicon anodes, biomass-based graphite, and advanced lithium-sulfur and lithium-metal technologies. The company focuses on manufacturing next-generation battery materials and components and developing high-performance batteries for energy storage, including UPS systems serving the AI data center market, electric vehicles, and aerospace applications.
The successful capital raise underscores investor confidence in Solidion's technology and its potential to address critical challenges in battery performance, particularly in extreme climates. With pilot production facilities in Dayton, Ohio, and headquarters in Dallas, Texas, the company is well-positioned to scale its operations.
For more details on the private placement, the full press release is available at https://ibn.fm/Xxzmx. Additional information about Solidion Technology can be found at www.solidiontech.com.
