EV battery maker SES Holdings looks to go public via $3.6b SPAC deal

EV battery maker SES Holdings looks to go public via $3.6b SPAC deal

Electric vehicle battery maker SES Holdings said on Tuesday that it would go public through a merger with a blank-cheque company in a deal that values the combined entity at $3.6 billion.

The deal with Ivanhoe Capital Acquisition Corp will fetch $476 million in proceeds for SES, including a private investment in public equity (PIPE) of $200 million from General Motors Co, Hyundai Motor Co Geely Holding Group and others.

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