Cartesian Growth III to Take Factorial Public via Merger

Cartesian Growth Corp. III Class A ( (CGCT) ) just unveiled an announcement.

On December 17, 2025, Cartesian Growth Corporation III and Factorial Inc. signed a definitive business combination agreement that will merge Factorial with a Cartesian subsidiary and take the solid-state battery developer public in the U.S., with the post-merger parent to be renamed Factorial Holdings, Inc., domesticated in Delaware and listed on Nasdaq under the ticker FAC. The deal values Factorial at about $1.1 billion pre-money and, assuming no redemptions, implies a pro forma equity value near $1.5 billion, backed by $100 million of PIPE commitments and approximately $276 million of SPAC cash in trust, and includes a complex share exchange, option and RSU rollover, new equity and employee stock purchase plans, a reworked warrant structure, lock-up provisions, and board reconstitution, all subject to shareholder approvals, regulatory clearances, listing approval and other customary conditions, with closing targeted for mid-2026; failure to meet these conditions or the long-stop date of November 12, 2026 could see the agreement terminated without further obligations beyond standard protections.

More about Cartesian Growth Corp. III Class A

Cartesian Growth Corporation III is a special purpose acquisition company affiliated with private equity firm Cartesian Capital Group, formed to pursue mergers or similar business combinations, and currently listed on Nasdaq. Its target in this transaction, Factorial Inc., is a Boston-based leader in solid-state battery technology whose FEST and Solstice platforms offer higher energy density, improved safety, and compatibility with existing manufacturing, with validated performance in electric vehicles and growing focus on defense, aerospace, and robotics markets through partnerships with global automakers including Mercedes-Benz, Stellantis, Hyundai and Kia.

Average Trading Volume: 68,930

Technical Sentiment Signal: Strong Buy

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