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Advanced Silicon Battery to Become a Public via $RSVA SPACAdvanced Silicon Battery Company Enovix to Become a Public Company Through Merger with Rodgers Silicon Valley Acquisition Corp. Enovix is the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries with energy densities that are five years ahead of current battery technologies - Funded design wins with several blue chip customers in the high-value mobile computing segments (wearables, mobile communications, PCs and AR/VR) of the Li-ion battery cell market, which is expected to reach a $13 billion addressable market by 2025, of the total expected $75 billion Li-ion battery cell market - Customer endorsement and investment has led to the construction of Enovix's first battery production facility in Fremont, CA; larger second facility planned for 2023 and strategy for a third facility focused on Electric Vehicle ("EV") batteries - Transaction values Enovix at an estimated pro forma enterprise value of $1.128 billion upon completion - The transaction will result in approximately $385 million in net proceeds through the business combination, which includes $230 million of cash held in trust by Rodgers Silicon Valley Acquisition Corp., assuming no redemptions - Transaction includes an upsized and oversubscribed $175 million PIPE issued at $14 per share, anchored by leading institutional investors Upon closing of the transaction, which is expected to occur in the second quarter of 2021 finance.yahoo.com
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by AlenCiken
SOCMA and $GTEC Sign Co-Operation AgreementSOCMA and Greenland Technologies Sign Co-Operation Agreement to Support U.S. Production of Electric Industrial Vehicles $GTEC yesterday announced a co-operation agreement to utilize SOCMA's existing supply-chain and certain technologies. The agreement also represents a commitment by Greenland to invest in the U.S. as a key center of innovation in the global electric vehicle market. Under the agreement, both parties intend to establish a strategic partnership to fully cooperate on technology sharing and supply chain management for the production of electric industrial vehicles in the U.S. finance.yahoo.com
NASDAQ:GTEC
by AlenCiken
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Chinese drone company EHang rebounds after short reportChinese drone company EHang rebounds after short report Yesterday, the stock had plunged more than 60% after a short sell report from Wolfpack, claiming that EHang was largely fabri-- had largely fabricated revenues based on sham sales contracts. Now EHang today put out a statement saying that the report contains numerous errors, unsubstantial statements, and misinterpretation of information. So the stock has been rebounding a bit from yesterday. finance.yahoo.com
NASDAQ:EH
by AlenCiken
$LODE soars after taking stake in lithium-ion battery recyclerComstock Secures Majority Interest in Lithium-Ion Battery Recycling Company; Facility Plans 10,000 Tons Per Year of 99.9% Pure Lithium-ion Cathodes for Clean Energy Transition. Comstock today announced transactions securing the rights to a majority equity stake in LINICO Corporation (“LiNiCo”), a lithium-ion battery (“LIB”) recycling company who recently acquired a state-of-the-art battery metal recycling facility from Aqua Metals, Inc. (“Aqua Metals”) located in the Tahoe Reno Industrial (“TRI”) Center in Storey County, Nevada. The Company will pay $4,500,000 in cash and 3,000,000 shares of its restricted common stock, representing up to $10,750,000 in consideration for up to a 64% ownership stake in LiNiCo. Aqua Metals is investing $2,000,000 for a 10% stake in LiNiCo. LiNiCo will use the proceeds to increase its direct strategic investment in Green Li-ion Pte, Ltd. (“Green Li-ion”), purchase Green Li-ion’s patented process equipment, with exclusive rights for the U.S. market, enabling the production of 99.9% pure lithium-ion cathodes. Extraordinary Growth Lithium-ion battery production capacity has increased tenfold in the past decade. finance.yahoo.com
AMEX:LODE
by AlenCiken
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Volta Industries to go public via $SNPR spac companyVolta Industries, Inc. and Tortoise Acquisition Corp. II Announce Planned Merger Combined Company to Remain on the NYSE Volta is a leading owner - operator of public electric vehicle charging infrastructure that is prominently located in places where drivers live, work, shop and play. Pro Forma enterprise value of the transaction is estimated to be $1.4 billion. Anticipated net proceeds of approximately $600 million (assuming minimal redemptions) will be used to accelerate Volta's buildout of its charging network already in the pipeline. This includes an upsized $300 million fully committed private placement of common stock in the combined company (the "PIPE"). The PIPE is anchored by institutional investors including funds and accounts managed by BlackRock, Fidelity Management & Research Company, LLC and Neuberger Berman Funds. - Volta's significant contract portfolio of real estate and retail partners (including Ahold Delhaize, Brookfield, Regency and others), as well as the company's iconic installations at the United Center and Dignity Health Arena as examples, highlight Volta's market leading position in convenience, high-accessibility public charging. - Existing Volta securityholders will roll 100% of their equity in the transaction and are expected to own approximately 64% of the company upon transaction close. - Pro forma implied equity value of the combined company of over $2 billion, at the $10.00 per share PIPE price and assuming minimal redemptions by Tortoise Acquisition Corp. II public shareholders. The transaction is expected to close late in the second quarter of 2021 finance.yahoo.com
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by AlenCiken
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