Global law firm White & Case LLP has advised SES Holdings Pte. Ltd. (SES), the world leader in the development and manufacturing of high-performance hybrid Lithium-Metal (Li-Metal) rechargeable batteries for electric vehicles, on its agreement to combine with Ivanhoe Capital Acquisition Corp., a publicly listed special purpose acquisition company (SPAC). The deal values SES at US$3.6 billion.
The transactions will create the first publicly traded hybrid Li-Metal battery company that combines the high-energy density of Li-Metal with cost-effective manufacturability at scale. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms, and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Singapore and has operations in Boston, Shanghai and Seoul.
The White & Case team that advised on the transaction was led by partners Chang-Do Gong (M&A), Joel Rubinstein and Jonathan Rochwarger in New York, and Maia Gez (Capital Markets) in Silicon Valley, and included associates Eric Clamage in Chicago; Jordan Kobb, Yixin Yan and Harkesh Patel (M&A) in New York; associates Scott Levi, Joe Chung, Donte Bronaugh and Emily Ostertag (Capital Markets) in New York; partner Victoria Rosamond and associate Peter Shelburne (Employment, Compensation & Benefits) in New York; partner Arlene Hahn, associates Kelly Funderburk and Anthony Johnson (Intellectual Property) in New York; counsel Paul Pittman in Washington, DC and associate Abdul Hafiz (Cybersecurity/Data Privacy) in New York; partner Sang Ji and associate Adriana Zhan (Tax) in New York; partners Farhad Jalinous and Karalyn Mildorf, and senior policy counsel Earl Comstock (CFIUS/Trade) in Washington, DC; partner Rebecca Farrington and associate Alexander Andresian (Antitrust) in Washington, DC.
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