Ivanhoe Capital Acquisition Corp.
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 1177 Avenue of the Americas New York City NY United States of America 10036
- IPO Date
- Mar 1, 2021
- CIK
- 0001819142
- Similar Companies
- Business
- Ivanhoe Capital Acquisition Corp is a Singapore-based special purpose acquisition company (SPAC) focused on the energy transition sector. The company primarily targets businesses involved in the supply chain for electrification products and services, including mining companies for copper, nickel, cobalt, and platinum group metals; battery and component manufacturers; electric grid companies; and electric vehicle manufacturers. Ivanhoe Capital Acquisition Corp was formed in 2021 and is listed on the New York Stock Exchange under the ticker IVAN. It raised $240 million in an upsized initial public offering, positioning itself to capitalize on the shift from fossil fuels to electrification across various sectors. The company underwent a major transformational event in early 2022 when it completed a business combination with SES Holdings Pte. Ltd., a global leader in high-performance lithium-metal rechargeable battery technology. Following this, Ivanhoe Capital Acquisition Corp was renamed SES AI Corporation, and its Class A stock and warrants started trading under the new ticker symbols SES and SES WS, respectively. This strategic merger enhanced SES's financial position with $275 million raised in a PIPE offering, supported by strategic investors including leading automotive OEMs such as Honda. The transaction is designed to accelerate SES's development and commercialization of next-generation lithium metal battery technology for electric vehicles and other applications. Ivanhoe Capital Acquisition Corp operates across geographic markets including Singapore, North America, and China, leveraging its founder Robert M. Friedland's extensive international business network. The company's strategic focus lies in financing and facilitating growth in clean energy solutions, advanced battery technologies, and critical raw materials necessary for the global energy transition. The transaction with SES represents its latest major operational shift, emphasizing a commitment to disruptive innovation in battery technology for electrification. Thus, Ivanhoe Capital Acquisition Corp offers investors exposure primarily to emerging technologies in lithium-metal batteries through its merger and strategic alliances, alongside its original mandate to back critical mining and energy-transition related enterprises globally. The company originally completed its incorporation as a blank-check entity for the purpose of mergers or acquisitions within the clean energy and electrification ecosystem and has since shifted significantly towards battery technology development through its SES combination. It continues to support advancements in the electrification supply chain with a focus on sustainability and technological leadership.
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