Factorial and Cartesian Growth Corporation III to Combine for Solid-State Battery Commercialization

Factorial Inc. and Cartesian Growth Corporation III have entered into a definitive business combination agreement, valuing Factorial at approximately $1.1 billion pre-merger. The agreement includes $100 million in new capital from institutional investors through a private placement.

Upon completion, the combined entity will trade on Nasdaq under the ticker symbol FAC, with a pro forma equity value of around $1.5 billion if no redemptions occur. Factorial's solid-state battery technology has been validated through collaborations with OEMs, achieving over 1,200 km range in testing.

The partnership aims to enable Factorial's expansion into various sectors, including defense and aerospace. The transaction is expected to close by mid-2026, subject to customary conditions.