MIT’s battery technology spinout will collect $200m in a private investment in public equity financing and list on the New York Stock Exchange.
SES, a Singapore-headquartered lithium-metal battery developer spun out of Massachusetts Institute of Technology, 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’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 carmakers General Motors (GM), Hyundai, Kia,…
