Deals
Ford-Backed Solid Power Said in Talks With Decarbonization SPAC
- Blank-check firm raising funds for deal with battery maker
- Combined company would be valued at about $1.2 billion
Solid Power’s 22-layer 20Ah cell compared with the company’s first-generation 10-layer 2Ah cell.
Source: Solid PowerThis article is for subscribers only.
Solid Power, a maker of solid-state batteries that counts Ford Motor Co. and BMW AG among its investors, is in talks to go public through a merger with Decarbonization Plus Acquisition Corp. III, according to people with knowledge of the matter.
The blank-check firm is seeking to raise more than $100 million in new equity to support a transaction that’s set to value the combined entity at about $1.2 billion, including debt, one of the people said. Terms could change and as with all deals that aren’t finalized, it’s possible talks could collapse.