Cartesian Growth Corporation III, Factorial Sign Business Combination Deal, Valuing Factorial At $1.1B

Factorial Inc. ("Factorial"), a leader in solid-state battery technology, and Cartesian Growth Corporation III ("Cartesian III"), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement ("BCA").

The business combination ("Combination") values Factorial at approximately $1.1 billion on a pre-money, pre-merger basis. The Combination also includes $100 million in new capital committed by institutional investors in a private placement of common stock (the "PIPE"). Upon closing, the combined company will list on Nasdaq under the ticker symbol FAC. Cartesian III currently holds approximately $276 million in cash in trust (all subject to redemption). Assuming no redemptions, the Combination will result in a pro forma equity value of approximately $1.5 billion.