InoBat to Go Public via $1.265B SPAC Deal with Cartesian Growth II
RENEF sits 15% above its 52-week low of $11.05.
Summary
InoBat, a European battery energy storage company, will merge with SPAC Cartesian Growth Corporation II (RENEF) in a deal valuing InoBat at $1.265 billion pre-money. The transaction includes $77.5 million in committed new capital from institutional investors and existing shareholders, with no minimum-cash condition. InoBat operates a cash-generative BESS platform with 875 MWh of delivered or contracted utility-scale storage capacity and is advancing sodium-ion battery technology. The combined company is expected to list on Nasdaq under ticker INBT, providing access to deeper capital markets to fund expansion in AI-driven energy storage demand. Closing is targeted for late 2026.
At the time of this announcement, RENEF was trading at $12.71 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $112.2M. The 52-week trading range was $11.05 to $12.71. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.