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Solidion Technology said it sees no basis to raise its cash offer for Polar Power's assets, citing the target's operating losses, negative cash flow, and reliance on dilutive financing.
Solidion Technology (STI) reaffirmed its acquisition strategy and stated it sees no basis to increase its all-cash asset acquisition proposal for Polar Power (POLA). Solidion cited Polar Power's "severely distressed" state, including ongoing operating losses, negative cash flow, NASDAQ compliance issues, and substantia