Nubia Brand International Shares Fall After Closing SPAC Merger

Dow Jones02-03

By Ben Glickman

Shares of Nubia Brand International fell after the company closed its merger with battery-materials company Honeycomb Battery.

The stock was down 11% to $4.02 in after-hours trading, following a 21% drop at Friday's close. Shares are down about 41% since the start of the year.

The blank-check company's merger with Honeycomb was completed on Friday after being approved by stockholders in December.

The combined company was renamed Solidion Technology and is expected to begin trading under the ticker STI on Monday.

Honeycomb is the former energy solutions division of Global Graphene Group.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

February 02, 2024 18:55 ET (23:55 GMT)

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