The investors in the US$200 million PIPE include Koch Strategic Platforms, Hyundai Motor Co, Geely Holding Group, Kia Corp and General Motors Co, according to the people.
Battery maker SES Holdings has agreed to go public by merging with Ivanhoe Capital Acquisition Corp in a deal that will value the combined company at about US$3.6 billion ($4.87 billion), according to people familiar with the matter.
The combined company will get as much as US$476 million in gross proceeds, said the people, who asked not to be identified because the information is private. That includes about US$276 million from Ivanhoe, a special purpose acquisition company, or SPAC, plus a fully committed private investment in public equity, or PIPE, the people said.
