Business
Nubia Brand International Corp. Confirms Funding and Extension of Deadline to Complete Initial Business Combination
Dallas, Texas, March 17, 2023 (GLOBE NEWSWIRE) -- Nubia Brand International Corp. (Nasdaq: NUBI) (the "Company" or “Nubia”) announced today that its sponsor,
About this update from Solidion Technology, Inc.
[{"type":"text","content":"Dallas, Texas, March 17, 2023 (GLOBE NEWSWIRE) -- Nubia Brand International Corp. (Nasdaq: NUBI) (the \"Company\" or “Nubia”) announced today that its sponsor, Mach FM Acquisitions LLC (the \"Sponsor\"), has timely deposited an additional $1,235,000 (the \"Extension Payment\") into the Company's trust account for its public stockholders. This deposit enables the Company to extend the date by which the Company has to complete its initial business combination from March 15, 2023 to June 15, 2023 (the \"Extension\"). The Extension provides the Company with additional time to complete its previously announced business combination with Honeycomb Battery Co. The Sponsor loaned the Extension Payment to the Company, which loan is convertible, at the Sponsor's discretion, into warrants identical to the private placement warrants issued in the Company's private placement that was consummated in connection with the Company's initial public offering. About Nubia Brand International Corp. Nubia is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses. About Honeycomb Honeycomb Battery Co. (“Honeycomb”), formerly the energy solutions division of Global Graphene Group, Inc., is a Dayton, Ohio, USA-based advanced battery technology company focused on the development and commercialization of battery materials, components, cells, and selected module/pack technologies. Additional Information about the Proposed Transaction and Where to Find It This press release relates to a proposed transaction between Honeycomb and Nubia. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the transaction described herein, Nubia intends to file relevant materials with the SEC, including a proxy statement (that includes a preliminary proxy statement, and when available, a definitive proxy statement). Promptly after filing its definitive proxy statement with the SEC, Nubia will mail the definitive proxy...