Solidion Technology (STI) has agreed to sell about 2.3 million common shares in a private placement expected to generate about $35 million in gross proceeds, the company said Sunday.
Proceeds from the offering, set to close around Tuesday, will be used to commercialize its Extreme-Climate Battery technology, support growth initiatives and fund working capital needs.
Shares of the company rose more than 14% in recent pre-bell activity Monday.
Price: 41.00, Change: +5.28, Percent Change: +14.78
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