Solid Power, a maker of solid-state batteries that counts Ford Motor Co. and BMW AG among its investors, is in talks to go public through a merger with Decarbonization Plus Acquisition III, Bloomberg reports, citing people with knowledge of the matter.
The blank-check firm is seeking to raise more than $100 million in new equity to support a transaction that’s set to value the combined business at about $1.2 billion, including debt, one of the people said. Terms could change and as with all deals that aren’t finalized, it’s possible talks could collapse.
Colorado-based Solid Power raised $130 million last month in a round led by Ford, BMW and Volta Energy Technologies. Read more.
