EV Battery Stock Solid Power To Go Public - DCRC

Solid Power, a solid-state battery developer backed by Ford and BMW, is going public. The company said Tuesday it would head to the NASDAQ via a merger with special purpose acquisition company Decarbonization Plus Acquisition Corp III (DCRC) at a post-deal implied market valuation of $1.2 billion.

The transaction is expected to generate around $600 million in cash, including a $165 million private investment in public equity (PIPE) transaction from investors Koch Strategic Platforms, Riverstone Energy Limited, Neuberger Berman and Van Eck Associates Corporation. Solid Power said in a statement Tuesday that the funds will go toward growth and operations.

Solid state batteries are considered by many as the next long-awaited breakthrough in battery technology. They are so named because they lack a liquid electrolyte, the mechanism that moves ions between the cathode and anode in traditional lithium-ion batteries.
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