General Motors, Hyundai, Kia, Geely, SAIC Motor, Koch Industries, Foxconn and LG took part in a $200m PIPE supporting a $3.6bn reverse merger for lithium-metal battery developer SES.
SES, a Singapore-headquartered lithium-metal battery developer backed by corporates General Motors, Applied Materials, SAIC Motor and SK Group, agreed yesterday to a reverse merger with special purpose acquisition company Ivanhoe Capital Acquisition Corp.
The merged business will be valued at $3.6bn in the transaction and will take up Ivanhoe Capital Acquisition Corp’s listing on the New York Stock Exchange, acquired through a $276m initial public offering earlier this month.
The deal will be supported by a $200m private placement featuring…
