Lotus Technology and L Catterton Asia Acquisition announced today that their business combination is expected to close on Feb. 22. The combined company will retain Lotus Tech’s name and its shares (ADS) will begin trading on the Nasdaq under the ticker symbol LOT starting Feb. 23.
Integrating Lotus’s sports car DNA with a new generation of premium lifestyle vehicles, Lotus Tech said it is committed to transforming the brand into an advanced, fully electric, intelligent, and sustainable luxury mobility provider before its 80th anniversary in 2028.
L Catterton Asia shareholders approved the deal earlier this month, although redemptions of 20,818,519 shares carved out most of the remaining cash in trust.
Since the transaction was announced, the company has raised more than $880 million in pre-closing and private investment in public equity financing commitments from global investors, existing shareholders, and strategic partners, representing one of the largest amounts of additional financing raised in connection with a de-SPAC transaction since 2023. Read more.
