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2021-07-14

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EV Battery Maker SES Agrees to Go Public Via Ivanhoe SPAC

(Bloomberg) -- Battery maker SES Holdings Pte has agreed to go public by merging with Ivanhoe Capita

EV Battery Maker SES Agrees to Go Public Via Ivanhoe SPAC

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That includes about $276 million from Ivanhoe, a special purpose acquisition company, or SPAC, plus a fully committed private investment in public equity, or PIPE, the people said.</p>\n<p>The investors in the $200 million PIPE include Koch Strategic Platforms, Hyundai Motor Co., Geely Holding Group, Kia Corp. and General Motors Co., according to the people.</p>\n<p>The agreement could be announced as soon as Tuesday, they said.</p>\n<p>Representatives for SES and Ivanhoe declined to comment.</p>\n<p>Singapore-based SES makes hybrid lithium-metal rechargeable batteries for electric vehicles.</p>\n<p>Ivanhoe raised $276 million including so-called greenshoe shares in its initial public offering in January. 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EV Battery Maker SES Agrees to Go Public Via Ivanhoe SPAC

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