Wilson Sonsini, V&E steer Ford-backed Solid Power's SPAC union

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Four law firms, including Wilson Sonsini Goodrich & Rosati and Vinson & Elkins, are guiding Ford Motor Co-backed battery maker Solid Power Inc’s $1.2 billion merger with a special purpose acquisition company.

Louisville, Colorado-based Solid Power and blank check company Decarbonization Plus Acquisition Corp III their union on Tuesday after a wave of other companies in the electric vehicle space revealed plans to go public via SPAC mergers.

Layne has played a pivotal role in the firm’s relationship with New York asset management firm Riverstone Holdings LLC, which formed DCRC and other SPACs devoted to merging with companies that aim to decrease carbon emissions. Layne said in a statement that companies serving the electric vehicle industry have been going public via SPAC mergers in the past year to access more financing.

"You still see PIPEs getting done, but they're not nearly as oversubscribed as they were in Q1," Layne said.

 

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