08:54 AM EDT, 08/30/2024 (MT Newswires) -- Solidion Technology ( STI ) said Friday it agreed with certain investors to sell securities to raise about $4 million in cash under a private placement.

The company said it will issue about 12.2 million units and pre-funded units, each consisting of one common share and three common warrants to purchase additional shares.

The private placement is expected to close Sept. 3.

Proceeds from the transaction are expected to be used for general working capital and administrative purposes, the company said.

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