IPO$1.3B equity value
Solid-State Battery Maker Factorial Energy Lists on Nasdaq at $1.3B via SPAC Merger
Factorial Energy completed its business combination with Cartesian Growth Corporation III and began trading on Nasdaq under ticker FAC on June 8, implying about $1.3 billion in equity value and delivering over $100 million in gross proceeds to fund commercialization of its solid-state batteries for defense, data centers, drones, robotics and e-mobility. Stellantis holds a 9.5% stake in the combined company, underscoring continued automaker conviction in solid-state battery technology.