Solidion Technology said Monday it plans to opportunistically acquire shares of SpaceX as a long-term strategic treasury asset, using a modest portion of its cash reserves.
Solidion Technology and SpaceX shares were up nearly 10% and over 2%, respectively in premarket activity Monday.
The company said the SpaceX investment will be a modest balance sheet allocation and will not impact funding for core operations or planned capital spending.
The SpaceX investment will be held as a long-term strategic asset on the company's balance sheet, Solidion said.