TLDR
- Solidion Technology announced it will buy SpaceX stock as a strategic treasury asset
- STI stock jumped 14.3% in premarket trading to $14.10, up from Friday’s close of $12.34
- The company called SpaceX a “generational asset” relevant to its battery technology markets
- SpaceX joins the Nasdaq-100 on July 7, which is expected to bring billions in passive index buying
- Solidion has a market cap of ~$95.6 million and holds over 385 battery technology patents
Solidion Technology (STI) announced Monday it plans to purchase SpaceX stock and hold it as a strategic treasury asset on its balance sheet. The Dallas-based advanced battery technology company said the initial allocation would be a “modest portion” of its current cash on hand.
The news sent STI up 14.3% in premarket trading to $14.10. The stock closed Friday at $12.34. Solidion carries a market cap of around $95.6 million.
CEO Jaymes Winters was direct about the intent. “This is not a speculative trade — it is a deliberate decision to place a small but meaningful vote of confidence in a company shaping the future of the industries we serve,” he said in the release.
The company said SpaceX’s Starship, Falcon, and Starlink programs represent some of the toughest environments for next-generation battery technology. It argues those aerospace applications are exactly what its silicon anode, graphene-enhanced, and solid-state battery technologies are built for.
Solidion said the investment will not interfere with operating priorities or planned capital expenditures. It described the position as a long-term hold and said management will be “opportunistic” in any future purchases.
Worth noting: Solidion’s own financial health is rated “WEAK” by InvestingPro, and the platform flags the stock as overvalued relative to its Fair Value. STI has also dropped 18.6% over the past week, though it’s still up 209% over the past year.
SpaceX Joins the Nasdaq-100 on July 7
SpaceX enters the Nasdaq-100 on July 7. That event is expected to generate several billion dollars in passive buying from index-tracking funds — and Solidion is positioning itself ahead of that date.
SpaceX priced its IPO at $135 on June 11. It has since traded as high as $225.64 and hit a post-IPO low of $147.11. In premarket Monday, SpaceX was up 1.5% at $155.50.
S&P 500 and Dow Jones futures were also in positive territory Monday, up 0.7% and 0.3% respectively.
Solidion’s Battery Technology Background
Solidion holds a portfolio of over 385 patents covering battery technologies including silicon anodes and lithium-sulfur applications. The company has pilot production facilities in Dayton, Ohio.
In recent months, Solidion closed a $35 million private placement to fund commercialization of its Extreme-Climate Battery technology through 2028. It also announced seven new U.S. patents, bringing its total U.S. patent count to 130.
The company did not disclose the exact dollar amount it plans to invest in SpaceX or a specific timeline for purchases.
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