The solid-state battery maker will get a Nasdaq listing through the deal, which follows $161m in funding the company raised since being spun out of CU Boulder.
Solid Power, a US-based solid-state battery manufacturer spun out of University of Colorado Boulder, agreed yesterday to a reverse merger with special purpose acquisition company Decarbonization Plus Acquisition Corporation III.
The combined business will take the Nasdaq Capital Market listing acquired by Decarbonization Plus Acquisition Corporation III in a $350m initial public offering in March this year, and will have an implied $1.2 billion pro forma enterprise valuation.
The transaction will be boosted by $165m in private investment in public equity financing from Koch Strategic Platforms, a vehicle for chemicals group Koch, as well as Riverstone Energy, Neuberger Berman funds and Van Eck Associates.
Solid Power produces solid-state batteries for use in electric vehicles and mobile devices, utilising a sulfide solid electrolyte instead of the liquid electrolytes in conventional lithium-ion batteries.
The company revealed this week the series B round it announced last month was sized…
