Decarbonization Plus Acquisition III in an 8-K filing disclosed that it has secured an agreement with SK Innovation Co., Ltd., which will purchase shares of the SPAC up to $30 million. The funds will be added to the existing PIPE that will go toward the SPAC’s pending merger with Solid Power, an EV battery manufacturer.
Total PIPE proceeds now stand at $195 million.
Upon closing of the transaction and assuming no redemptions by DCRC public stockholders, Solid Power is expected to have approximately $600 million in cash. Read more.
