Ivanhoe Capital Acquisition and SES Holdings Pte. Ltd., which develops and manufactures high-performance Li-Metal batteries for automotive and transportation applications, today announced that the SEC has declared effective Ivanhoe’s registration statement on the proposed merger of thre companies.
The SPAC’s shareholder vote on the deal is set for Feb. 1.
The transaction values the combined company at a pro forma implied equity value of approximately $3.6 billion (inclusive of a $300 million earn-out).
Ivanhoe raised $240 million in a January IPO. The SPAC also has PIPE commitments of $275 million to support the deal. Read more.
