Solidion Technology Inc
For the period ended Dec 31, 2023. Filed Apr 12, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 12, 2024
STI$4.03-3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| For the Year Ended December 31, 2023 | For the Year Ended December 31, 2022 | |
|---|---|---|
| Cash Flows From Operating Activities: | ||
| Net income (loss) | $(19,775,602) | $593,905 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Income earned on Investments held in Trust Account | (3,788,143) | (1,812,882) |
| Change in fair value of over-allotment liability | — | (19,432) |
| Derivative asset/liabilities | 18,483,096 | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses | 130,090 | (215,628) |
| Other assets | 35,870 | (35,870) |
| Accrued formation and offering costs | (5,000) | — |
| Income tax payable | 566,664 | 339,899 |
| Accounts payable and accrued expenses | 1,691,932 | 424,906 |
| Net Cash Used In Operating Activities | (2,661,093) | (725,102) |
| Cash Flows From Investing Activities: | ||
| Cash withdrawn for taxes | 1,523,258 | — |
| Cash withdrawn for redemptions of Class Common Stock | 89,038,494 | — |
| Cash deposited into Trust Account | (1,985,000) | (125,970,000) |
| Net Cash Provided By (Used In) Investing Activities | 88,576,752 | (125,970,000) |
| Cash Flows From Financing Activities: | ||
| Proceeds from convertible note – Sponsor | 1,172,159 | — |
| Proceeds from convertible note | 905,000 | — |
| Advances from Related Party | 332,500 | — |
| Advances from Target | 187,500 | — |
| Payments for redemption of Class A Common Stock | (89,038,494) | |
| Sale of Units in the Initial Public Offering, net of underwriting discount | — | 123,500,000 |
| Proceeds from sale of Private Placement Warrants | — | 5,405,000 |
| Payment of underwriter fees | — | (1,235,000) |
| Payment of offering costs | — | (429,243) |
| Net Cash (Used In) Provided By Financing Activities | (86,441,335) | 127,240,757 |
| Net change in cash | (525,676) | 545,655 |
| Cash at beginning of period | 545,655 | — |
| Cash at end of period | $19,979 | $545,655 |
| Supplemental disclosure | ||
| Cash paid for income taxes | $1,012,944 | $— |
| Supplemental disclosure of non-cash financing activities: | ||
| Deferred offering costs included in accrued offering costs | $— | $25,000 |
| Deferred offering costs included in related party payable | $— | $939 |
| Deferred underwriters’ compensation charged to temporary equity in connection with the Public Offering | $— | $4,322,500 |
| Class A redeemable Common Stock measurement adjustment at Initial Public Offering | $— | $12,942,102 |
| Fair value of representative shares | $— | $776,815 |
| Fair value of over-allotment option | $— | $19,432 |
| Excise tax on redemption of Class A Common Stock | $890,385 | $— |
| Class A Common Stock Redeemable Current Period Remeasurement Adjustment | $3,972,489 | $1,272,983 |
| Reclassification of redeemed Class A ordinary shares | $17,834,235 | — |
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