Decarbonization Plus Acquisition III rises, Solid Power merger meeting eyed
07/12/2021 11:45
** Blank-check firm Decarbonization Plus Acquisition
Corporation III's shares DCRC.O rise 4.2% to $11.72 premarket
** The SPAC had announced plans for a merger in June to take
battery maker Solid Power Inc public through a $1.2 bln deal
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** The Special Meeting to approve the merger and related
matters is scheduled to be held later in the day at 1000 ET
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** Solid Power is a global leader in all-solid-state
batteries for EVs and backed by Ford Motor Co F.N and BMW
BMWG.DE
** In other investments, Korea's SK Innovation 096770.KS
recently committed $30 mln to Solid Power, while U.S. government
awarded co a ~$12.5 mln contract for developing nickel- and
cobalt-free solid-state battery cell urn:newsml:reuters.com:*:nNRAhd50i7 urn:newsml:reuters.com:*:nL4N2QX28U
** Combined co will be listed on the Nasdaq under the new
ticker symbol "SLDP" after the deal
** SPAC is a publicly listed shell company that raises funds
with the intention of merging with a private company, thus
helping it go public
** DCRC is the #6 trending stocks on investor-focussed
social media Stocktwits.com, highlighting retail interest in
meeting outcome
(Reporting by Bansari Mayur Kamdar in Bengaluru)
((BansariMayur.Kamdar@thomsonreuters.com;))