Solid power spac

Is solid power a good company?

Solid Power is a company that went public through a SPAC deal to raise money for their solid-state battery technology. The company's financials show decent growth and a strong liquidity position, allo...

What are SPACs and how do they work?

Special Purpose Acquisition Companies (SPACs) are publicly listed shell companies that raise funds intending to merge with private companies to take them public. In the past year, several electric-vehicle makers including Lucid Motors, Fisker Inc, and Nikola Corp have gone public through SPAC mergers or have announced plans for the same.

Is solid power merging with SPAC decarbonization plus?

Solid Power, which makes all-solid-state batteries for cars and mobile devices that perform similarly to lithium batteries, is merging with SPAC Decarbonization Plus.

Is solid power a pure-play solid-state company?

We are excited to have completed our business combination with DCRC and we are looking forward to our future as the only pure-play solid-state company trading on the public markets,” said Doug Campbell, Co-Founder and Chief Executive Officer of Solid Power.

Who is the owner of Decarbonization Plus SPAC?

Decarbonization Plus SPAC is an affiliate of Riverstone Investment Group and is led by CEO Erik Anderson. It raised $350 million in a March initial public offering. The company’s shares rose as much as 5.7% before the start of regular trading Tuesday.

How much money did solid power receive from pipe?

Solid Power received gross proceeds from the transaction of approximately $542.9 million from its fully committed $195 million PIPE and the receipt of approximately $347.9 million of cash from DCRC’s trust account net of redemptions.