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Kekst CNC is handling Riverstone Holdings as it arranges a deal to take Solid Power Inc. public via a SPAC deal valued at $1.2B.
Solid Power’s all-solid-state batteries can provide about a 500-mile vehicle range on a single charge, which is 50 to 75 percent greater than any commercially available lithium-ion batteries.
The company has partnerships with Ford and BMW, which plan to integrate its batteries in future electric vehicles.
“No other known company has made the type of commercialization achievements in all-solid-state batteries that Solid Power has, and its technology is built around a manufacturing process that would be indistinguishable to lithium-ion batteries, putting it in a league of its own,” said Robert Tichio, Riverstone partner.”
Doug Campbell, CEO of Solid Power, said the SPAC transaction “marks an important milestone of commercializing Solid Power's next generation of all-solid-state batteries.”
Kekst CNC’s Daniel Yunger and Jon Morgan working the SPAC.
Publicis Group owns Kekst CNC.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
