Battery Future Acquisition filed to offer 25 million units, each priced at $10 and consisting of one Class A ordinary share and one-half of a warrant.
The sponsors have agreed to buy private placement warrants up to $14 million.
The SPAC will target industries spearheading the shift from fossil fuels to electrification, including companies in the battery value chain from the mine site to end user to after-life battery and component recycling. Battery Future will not consider any companies operating in China, Hong Kong or Macau.
Non-Executive Chairman Simon Michael Hay led Galaxy Resources as CEO from July 2019 until its $3.1 billion merger with Orocobre in August 2021. Galaxy Resources was an established lithium producer in Western Australia and developed lithium brine and hard rock assets in Argentina and Canada through entities for which Hay served as a director.
Cantor is sole book-runner for the offering. Roth Capital is co-manager.
The SPAC intends to apply for a NYSE listing under BFAC.U. Read more.
