Saba Capital Amends Solidion Tech Stake, Maintains Position
Ticker: STI · Form: SC 13G/A · Filed: Feb 8, 2024 · CIK: 1881551
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**Saba Capital is still in Solidion Tech, watch for their next move.**
AI Summary
Saba Capital Management, L.P. filed an amended Schedule 13G/A on February 8, 2024, indicating their ownership in Solidion Technology Inc. (formerly Nubia Brand International Corp.) as of December 31, 2023. This filing updates their previous disclosures, confirming their continued position in the company's common stock. This matters to investors as it shows a significant institutional investor maintains a stake, potentially signaling confidence or a strategic position in the company's future.
Why It Matters
This filing confirms Saba Capital Management, L.P. continues to hold a significant stake in Solidion Technology Inc., which can influence stock perception and trading activity.
Risk Assessment
Risk Level: low — This is a routine amendment filing by an institutional investor, not indicating any immediate negative or positive event.
Analyst Insight
An investor should note that a prominent institutional investor like Saba Capital Management, L.P. maintains a position, but this filing alone doesn't provide details on the size of their stake or any recent changes, so further investigation into their specific holdings would be prudent.
Key Numbers
- $0.0001 — par value per share (the stated par value of Solidion Technology Inc.'s common stock)
- 834212102 — CUSIP Number (unique identifier for Solidion Technology Inc.'s common stock)
- 20240208 — filing date (the date the SC 13G/A amendment was filed)
- 20231231 — date of event (the date as of which the ownership information is reported)
Key Players & Entities
- Saba Capital Management, L.P. (company) — the reporting person holding shares in Solidion Technology Inc.
- Solidion Technology Inc. (company) — the subject company whose common stock is being reported on
- Nubia Brand International Corp. (company) — the former name of Solidion Technology Inc.
- Boaz R. Weinstein (person) — a group member associated with Saba Capital Management
- Saba Capital Management GP, LLC (company) — a group member associated with Saba Capital Management
Forward-Looking Statements
- Saba Capital Management, L.P. will continue to hold a significant stake in Solidion Technology Inc. for the foreseeable future. (Saba Capital Management, L.P.) — medium confidence, target: 2024-12-31
FAQ
What is the purpose of this specific SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 2) to a previous Schedule 13G, indicating an update to Saba Capital Management, L.P.'s ownership disclosures regarding Solidion Technology Inc. as of December 31, 2023.
Who is the reporting person in this filing?
The reporting person in this filing is Saba Capital Management, L.P., located at 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the subject company and its former name?
The subject company is Solidion Technology Inc., which was formerly known as Nubia Brand International Corp. The name change occurred on September 2, 2021.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Stock, $0.0001 par value, of Solidion Technology Inc. is 834212102.
Under which rule was this Schedule 13G/A filed?
This Schedule 13G/A was filed under Rule 13d-1(c) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box.
Filing Stats: 1,341 words · 5 min read · ~4 pages · Grade level 10.7 · Accepted 2024-02-08 12:23:41
Key Financial Figures
- $0.0001 — orp.) (Name of Issuer) Common Stock, $0.0001 par value (Title of Class of Securiti
Filing Documents
- formsc13ga.htm (SC 13G/A) — 45KB
- 0001062993-24-002372.txt ( ) — 47KB
Ownership
Item 4. Ownership (a) Amount Beneficially Owned: The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [X]
Ownership of more than Five Percent on Behalf of Another Person. N/A
Item 6. Ownership of more than Five Percent on Behalf of Another Person. N/A Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. N/A
Identification and classification of members of the group. N/A
Item 8. Identification and classification of members of the group. N/A
Notice of Dissolution of Group. N/A
Item 9. Notice of Dissolution of Group. N/A
Certifications
Item 10. Certifications. By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 6 of 7 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 8, 2024 /s/ Signature Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer Boaz R. Weinstein By: Michael D'Angelo Title: Attorney-in-fact*** *** Pursuant to a Power of Attorney dated as of November 16, 2015 Page 7 of 7