Alussa Energy Acquisition shareholders approved the SPAC’s business combination with FREYR, a Norway-based developer of clean, next-generation battery cell production capacity.
The companies expect to close the deal July 9 when the combined company will be known as FREYR Battery. Common stock and warrants are expected to trade on the NYSE under FREY and FREY.WS.
Neither the press release nor 8-K filed by the SPAC mentioned redemptions, if any. Approximately 12 percent of the voting shares were cast in opposition to the deal.
Announced in January, the business combination values the combined company at an implied $1.4 billion pro forma equity value. The transaction will provide an estimated $850 million of net proceeds to the merged company. Read more.