Decarbonization Plus Acquisition Corp III

Decarbonization Plus Acquisition Corp III is a blank-check company (SPAC) that raised $350M in its initial public offering on Mar 25, 2021, listing on New York Stock Exchange. It completed its business combination with Solid Power Operating, Inc. on Dec 8, 2021; the combined company is Solid Power, Inc. (SLDP). Credit Suisse led the IPO, with Citigroup. Vinson & Elkins advised the SPAC and Davis Polk advised the underwriters on the IPO.

Solid Power Operating produces all-solid-state rechargeable batteries for electric vehicles and mobile power markets. It says its batteries are safer, more stable across a broad temperature range, more energy dense and compatible with traditional lithium-ion manufacturing processes.

Status

Merger completed

IPO date

Mar 25, 2021

IPO size

$350M

IPO exchange

New York Stock Exchange

Target

Solid Power Operating, Inc.

Announced

Jun 15, 2021

Closed

Dec 8, 2021

Combined company

Solid Power, Inc. (SLDP)

IPO underwriters

Credit Suisse and Citigroup

SPAC counsel (IPO)

Vinson & Elkins

Underwriters' counsel (IPO)

Davis Polk