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SPAC · Merger completed

Cartesian Growth Corporation III

Business combination with Factorial Inc.

Cartesian Growth Corporation III is a blank-check company (SPAC) that raised $240M in its initial public offering on May 5, 2025, listing on Nasdaq Global Market. It completed its business combination with Factorial Inc. on Jun 5, 2026; the combined company is Factorial Energy Inc. (FAC). CGC III Sponsor led the IPO, with Cartesian Growth. Greenberg Traurig advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.

Factorial Inc. is a solid-state battery developer founded and headquartered in the Boston, Massachusetts area. It offers alternatives to traditional lithium-ion technologies and has commercial partnerships with automakers including Mercedes-Benz, Stellantis, Hyundai Motor Company and Kia Corporation.

Status
Merger completed
IPO date
May 5, 2025
IPO size
$240M
IPO exchange
Nasdaq Global Market
Target
Factorial Inc.
Announced
Dec 18, 2025
Closed
Jun 5, 2026
Combined company
Factorial Energy Inc. (FAC)
IPO underwriters
CGC III Sponsor and Cartesian Growth
SPAC counsel (IPO)
Greenberg Traurig and Maples and Calder
Underwriters' counsel (IPO)
Ellenoff Grossman & Schole

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