Solidion Technology Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Solidion Technology Inc. has filed its 2023 10-K report, detailing its financial performance and corporate information.</b>

AI Summary

Solidion Technology Inc. (STI) filed a Annual Report (10-K) with the SEC on April 12, 2024. Solidion Technology Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is registered in Delaware and its principal executive offices are located in Dallas, TX. Solidion Technology Inc. trades on The Nasdaq Stock Market LLC under the ticker symbol STI. The company was formerly known as Nubia Brand International Corp., with a name change effective September 2, 2021. Solidion Technology Inc. is classified as a non-accelerated filer and a smaller reporting company.

Why It Matters

For investors and stakeholders tracking Solidion Technology Inc., this filing contains several important signals. This filing provides investors with a comprehensive overview of Solidion Technology's financial health, operational activities, and strategic direction for the fiscal year 2023. As a publicly traded company on Nasdaq, adherence to SEC filing requirements like the 10-K is crucial for transparency and maintaining investor confidence.

Risk Assessment

Risk Level: low — Solidion Technology Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) with no immediate red flags, indicating routine compliance.

Analyst Insight

Monitor future filings for financial performance trends and strategic updates following this annual report.

Key Numbers

• 2023 — Fiscal Year End (The report covers the fiscal year ended December 31, 2023.)
• 001-41323 — Commission File Number (The SEC's file number for Solidion Technology Inc.)
• 87-1993879 — IRS Employer Identification No. (The company's IRS identification number.)
• STI — Trading Symbol (The ticker symbol for Solidion Technology Inc. on Nasdaq.)
• 20210902 — Date of Name Change (The effective date of the name change from Nubia Brand International Corp.)

Key Players & Entities

• Solidion Technology Inc. (company) — Filer name and subject of the 10-K filing.
• Nubia Brand International Corp. (company) — Former name of Solidion Technology Inc.
• The Nasdaq Stock Market LLC (company) — Exchange where Solidion Technology Inc. common stock is traded.
• STI (company) — Trading symbol for Solidion Technology Inc. common stock.
• Delaware (company) — State of incorporation for Solidion Technology Inc.
• Dallas, TX (company) — Location of Solidion Technology Inc.'s principal executive offices.
• 20231231 (date) — Fiscal year end date for the report.
• 20240412 (date) — Filing date of the 10-K report.

FAQ

Industry Context

Solidion Technology Inc. operates in the Miscellaneous Electrical Machinery, Equipment & Supplies sector.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including filing annual reports on Form 10-K.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
2. Track future quarterly filings (10-Q) for ongoing performance updates.
3. Monitor Nasdaq (STI) for stock performance and any related news.

Year-Over-Year Comparison

This is the company's annual report for the fiscal year ended December 31, 2023, following its previous filings.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share STI The Nasdaq Stock Market L
• $11.50 — se Common Stock at an exercise price of $11.50 per share, previously listed under tick
• $300 billion — entury market opportunity, with an over $300 billion EV battery market by 2030. Transportati
• $100 — battery cost, with a goal of less than $100 per kilowatt-hour. EV batteries are r

Filing Documents

• ea0202064-10k_solidiontech.htm (10-K) — 877KB
• ea020206401ex4-4_solidion.htm (EX-4.4) — 69KB
• ea020206401ex14_solidion.htm (EX-14) — 86KB
• ea020206401ex31-1_solidion.htm (EX-31.1) — 9KB
• ea020206401ex31-2_solidion.htm (EX-31.2) — 10KB
• ea020206401ex32-1_solidion.htm (EX-32.1) — 4KB
• ea020206401ex32-2_solidion.htm (EX-32.2) — 4KB
• ea020206401ex97_solidion.htm (EX-97.1) — 39KB
• ea020206401ex99-1_solidion.htm (EX-99.1) — 60KB
• ea020206401ex99-2_solidion.htm (EX-99.2) — 45KB
• image_001.jpg (GRAPHIC) — 39KB
• image_002.jpg (GRAPHIC) — 35KB
• image_003.jpg (GRAPHIC) — 29KB
• image_004.jpg (GRAPHIC) — 29KB
• image_005.jpg (GRAPHIC) — 38KB
• image_006.jpg (GRAPHIC) — 27KB
• image_007.jpg (GRAPHIC) — 11KB
• image_008.jpg (GRAPHIC) — 29KB
• image_009.jpg (GRAPHIC) — 29KB
• 0001213900-24-032308.txt (&nbsp;) — 5858KB
• sti-20231231.xsd (EX-101.SCH) — 58KB
• sti-20231231_cal.xml (EX-101.CAL) — 29KB
• sti-20231231_def.xml (EX-101.DEF) — 265KB
• sti-20231231_lab.xml (EX-101.LAB) — 432KB
• sti-20231231_pre.xml (EX-101.PRE) — 256KB
• ea0202064-10k_solidiontech_htm.xml (XML) — 394KB

Business

Business 1 Item 1A. Risk Factors 16 Item 1B. Unresolved Staff Comments 39 Item 1C. Cybersecurity 39 Item 2.

Properties

Properties 39 Item 3. Legal Proceedings 39 Item 4. Mine Safety Disclosures 39 PART II 40 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 6. [RESERVED] 40 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 40 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 45 Item 8. Financial 45 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 45 Item 9A. Controls and Procedures 45 Item 9B. Other Information 45 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 45 PART III 46 Item 10. Directors, Executive Officers and Corporate Governance 46 Item 11. Executive Compensation 46 Item 12. Security 46 Item 13. Certain Relationships and Related Transactions, and Director Independence 46 Item 14. Principal Accounting Fees and Services 46 PART IV 47 Item 15. Exhibits, Financial Statement Schedules 47 Item 16. Form 10-K Summary 48 i

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. The statements contained in this report that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our or our management's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipates," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this report may include, for example, statements about our: our financial and business performance, including financial and business metrics; changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; our ability to develop a high-volume manufacturing line and otherwise scale in a cost-effective manner; our ability to add manufacturing capacity and the costs and timing to add such capacity; the expected addressable market for our products; developments relating to our competitors and industry; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; our future capital requirements and sources and uses of cash; our ability to obtain funding for our operations; our business, expansion plans and opportunities; and

BUSINESS

ITEM 1. BUSINESS In this Annual Report on Form 10-K (the "Form 10-K"), references to the "Company" and to "Solidion" "we," "us," and "our" refer to Solidion Technology, Inc. Corporate History and Background We were originally incorporated in Delaware on June 14, 2021 under the name "Nubia Brand International Corp." as a special purpose acquisition company, formed for the purpose of effecting an initial business combination with one or more target businesses. On March 14, 2022 (the "IPO Closing Date"), we consummated our initial public offering (the "IPO"). On February 2, 2024, we consummated the previously announced business combination (the "Closing") pursuant to a Merger Agreement, dated February 16, 2023 (as amended on August 25, 2023, the "Merger Agreement"), by and among Nubia, Honeycomb Battery Company, an Ohio corporation ("HBC"), and Nubia Merger Sub, Inc., an Ohio corporation and wholly-owned subsidiary of Nubia ("Merger Sub"). Pursuant to the Merger Agreement, Merger Sub merged with and into HBC (the "Merger," and the transactions contemplated by the Merger Agreement, the "Transactions"), with HBC surviving such merger as a wholly owned subsidiary of Nubia, which was renamed "Solidion Technology, Inc." upon Closing and we became the owner, directly or indirectly, of all of the equity interests of Honeycomb Battery Company and its subsidiaries. In light of the fact that the Business Combination has closed and our ongoing business will be the business formerly operated by HBC, this business section primarily includes information regarding HBC's business. Overview Solidion Technology, Inc, previously known as "Honeycomb Battery Company", formerly the energy solutions division of Global Graphene Group, Inc. ("G3"), is a Dallas, TX, USA-based advanced battery technology company focused on the development and commercialization of battery materials, components, cells, and selected module/pack technologies. The cofounder of Solidion, Dr. Bor Z Jang, filed

View Full Filing

View this 10-K filing on SEC EDGAR