Nubia Brand International Corp. completed a business combination with Honeycomb Battery Company, resulting in the formation of Solidion Technology, Inc., with Honeycomb surviving as a wholly owned subsidiary of Nubia. The merger consideration paid to HBC stockholders was $700 million, minus $2 million for a federal tax lien. The per share consideration was 69.8 million shares of Solidion's common stock for each share of HBC common stock. Solidion Technology, Inc. had 81.9 million shares of common stock outstanding after the merger.