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Battery Maker Supplying Data Centers to List via $600 Million SPAC Merger
A specialized battery manufacturer for data centers will merge with a blank-check company backed by SparkLabs Group. The deal values the battery firm at $600 million before new capital is added.
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A specialized battery maker supplying data centers has agreed to go public through a merger with a blank-check company backed by SparkLabs Group at a pre-money valuation of $600 million. The transaction will list the battery company on public markets without a traditional initial public offering. The blank-check vehicle is sponsored by SparkLabs Group.
The pre-money valuation sets the baseline equity value of the operating company ahead of any additional cash raised in the deal.
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