Battery maker SES Holdings Pte has agreed to go public by merging with Ivanhoe Capital Acquisition Corp. in a deal that will value the combined company at about $3.6 billion.
The combined entity will get as much as $476 million in gross proceeds, according to a statement July 13 that confirmed an earlier Bloomberg News report.
That includes about $276 million from Ivanhoe, a special purpose acquisition company, or SPAC, plus a fully committed private investment in public equity, or PIPE.
