Factorial Inc., a leader in solid-state battery technology, and Cartesian Growth Corporation III entered into a definitive business combination agreement. The transaction values Factorial at approximately $1.1 billion on a pre-money, pre-merger basis.
The combination includes $100 million in new capital committed by institutional investors in a private placement. With approximately $276 million held in trust and assuming no redemptions, the transaction implies a pro forma equity value of approximately $1.5 billion.
Factorial’s commercial partnerships include Mercedes-Benz, Stellantis, Hyundai Motor Company, and Kia Corporation.
Source: Business Wire · Read the original article
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