Clean battery manufacturer FREYR today said it has filed a preliminary proxy on the proposed buysiness combination with Alussa Energy Acquisition.
The transaction will raise an estimated $850 million in equity to the company, assuming no redemptions by Alussa Energy shareholders. The amount includes a $600 million fully committed PIPE anchored by strategic and institutional investors, including Koch Strategic Platforms, Glencore, Fidelity Management & Research, Franklin Templeton, Sylebra Capital and Van Eck Associates.
As stipulated in the agreement, Alussa Energy and Pubco shall collectively have a minimum cash condition of at least $400 million in the aggregate in cash and cash equivalents as one of the conditions to close the transaction. Read more.
