Ivanhoe Capital Acquisition Corp. (IVAN) to Combine with SES in a $2.6Bn Deal

Ivanhoe (NYSE:IVAN) has entered into a definitive agreement to combine with EV battery-maker SES at an enterprise value of $2.675 billion, or 5.5x its 2025E revenue. Singapore-based SES is developing a hybrid lithium-metal rechargeable battery for electric vehicles with full production expected to launch in 2025. The combined company is expected to trade on the
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