Factorial to Merge with Cartesian Growth Corporation III, Plans Nasdaq Listing
Factorial has announced a merger with Cartesian Growth Corporation III, aiming to raise over 320 million euros to accelerate the commercialization of solid-state battery technology. The merger is expected to be completed by mid-2026, with plans for Factorial to list on Nasdaq under the ticker symbol FAC.
The company has validated its lightweight solid-state batteries through practical tests, achieving over 1200 kilometers of range with a modified Mercedes-Benz EQS test vehicle. Beyond automotive applications, Factorial is expanding into defense, aerospace, and robotics sectors.
The merger values Factorial at approximately 1.1 billion USD pre-money, equating to about 950 million euros, and could reach a post-merger valuation of around 1.5 billion USD. Cartesian III currently holds approximately 240 million euros in trust funds, with additional capital from institutional investors secured through a private placement.
