Ford and BMW-backed battery maker Solid Power set to go public

Ford and BMW last month participated in Solid Power's $135m early stage financing round.Solid Power Inc, an electric-vehicle battery maker backed by Ford Motor Co and BMW, said on Tuesday it would go public by merging with a blank check firm in a deal that values the combined entity at around $1.

from private investors including Koch Strategic Platforms, Riverstone Energy Limited, Neuberger Berman funds and Van Eck Associates Corporation.Shares of the special purpose acquisition company were up 3.3% premarket. SPACs are publicly listed shell companies that raise funds intending to merge with private companies to take them public.

Electric-vehicle makers including Lucid Motors, Fisker Inc and Nikola Corp went public through SPAC mergers or have announced plans for the same over the past year. Volkswagen AG-backed battery maker QuantumScape Corp went public through a blank check merger in a $3.3bn The transaction is expected to close in the fourth quarter, after which Solid Power would be listed on the Nasdaq under the new ticker symbol"SLDP".

Stifel, Nicolaus & Co Inc is serving as a financial adviser to Solid Power, while Citigroup Global Markets Inc and J.P. Morgan Securities LLC advised DCRC.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Back to basics: SA goes back to lockdown level 3Alcohol sales will only be permitted between 10am and 6pm from Monday to Thursday. On-site alcohol consumption is permitted until 9pm.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Crowds gather for Gumede’s pre-trial hearing in R320-million corruption case - The Mail & GuardianThe Durban high court will set a date for the former mayor’s corruption trial to go ahead The best choice I've made this year was investing in cryptocurrency and forex trading and earning from home. With the help of KevinKatch2 I've been earning ZAR60,353.00k weekly I've never regretted this decision fellow RSA, 🙏🏻 Looks like she is off to the Durban July What crowd
Source: mailandguardian - 🏆 2. / 92 Read more »

Alarming levels of theft from base stations is playing hell with load shedding cell receptionThe theft of base station batteries coupled with the recent rise in load shedding is impacting cell phone coverage across South Africa.
Source: News24 - 🏆 4. / 80 Read more »

'Schools are the safest places for pupils,' says Motshekga | The Citizen“When we say we want children to go back to school on 26 July 2021, it’s really to protect the little that we can protect under very difficult conditions.” I disagree DBE_SA but what happened in 2020? Why were schools shut? These ppl are making this shit up. I think I am in the twilight zone, nothing makes sense....
Source: TheCitizen_News - 🏆 6. / 75 Read more »

DUMA GQUBULE: Much more needed than Ramaphosa’s reform gimmicksDUMA GQUBULE: Much more needed than Ramaphosa’s reform gimmicks 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »

DA wants provinces to have power to hold referendumsThis power is provided for in the constitution but requires legislation to give it effect The best choice I've made this year was investing in cryptocurrency and forex trading and earning from home. With the help of KevinKatch2 I've been earning ZAR60,353.00k weekly I've never regretted this decision fellow RSA, 🙏🏻 Actually that is not such a bad idea So many bitcon traders on Twitter are trickster AmeliaMaveric thank you for opening my eyes to their ways now I’m pretty sure I’ll be able to help others
Source: BDliveSA - 🏆 12. / 63 Read more »