Stellantis disclosed a 9.5% stake in Factorial Energy and signaled it could buy more, according to an SEC filing. The move underscores automotive interest in solid-state battery partnerships and could bolster FAC's financing and valuation if the stake grows. Near-term price impact may hinge on follow-on terms and broader sentiment around solid-state tech.
Factorial Energy completed its merger with Cartesian Growth Corp III, valuing the company at about $1.3 billion and securing more than $100 million in gross proceeds to advance commercialization. Cantor Fitzgerald served as exclusive financial advisor and PIPE agent, and FAC is set to ring the Nasdaq Opening Bell on June 17. The stock rose about 27.5% to $17.50 on the news, signaling a near-term re-rating on funded growth prospects.