Today we cover $QFTA, $IVAN, $AGC, and more…
A battery maker has just made a breakthrough in EV Lithium-Ion batteries, leaving competitors in the dust. Also, a behemoth in southeast Asia is making inroads into crypto and another fintech is going public through a SPAC merger. Read on to find the latest about all things SPACs.
SPACs to Watch
SES Holdings is set to introduce a lithium-ion battery cell with a capacity of 100 amp-hour, which is expected to show a ‘marked improvement’ over what rivals have shown so far.
Shares of $IVAN jumped 5% on the news and are up another 3% pre-market. The average capacity of Lithium-ion batteries ranges from 50-120 amp hours, but SES’s cell would be a technological leap making EV’s lighter and more energy-efficient. SES will deliver the vehicle-ready cells to GM (GM has backed SES), Hyundai Motor, and others for road testing by the end of the year.
SES will mass produce batteries in 2023, in a factory, that it is currently building in Shanghai. Other Solid State Battery makers competing with SES include South Korea-based SK Innovation (planning to mass-produce batteries by 2025), LG Energy Solution (planning solid-state batteries between 2027-2030), and QuantumScape (planning to announce solid-state batteries soon).
Crypto Payments provider TripleA is partnering with Grab to let Singapore users invest in digital tokens though their GrabPay
TripleA allows businesses to accept cryptocurrency payments by converting them into local currencies in real time. Unlike most counties, Singapore openly supports blockchain projects and cryptocurrencies, with adoption at around 9.4%.
The tie-up with Grab will help triple-A expand cryptocurrency access to more residents. Grab’s fintech arm is slowly making inroads into the cryptocurrency space. In September, Grab teamed up with Coinhako to enable users to purchase digital assets. In October, Grab Financial Group, announced that it was expanding its suite of products to empower SMEs.
The online broker will go public through a SPAC merger with Quantum FinTech Acquisition Corp, valuing the combined company at $1.43 billion
TradeStation will receive $316 million in gross proceeds from the deal, which includes $201 million held in the SPAC trust and $115 million from PIPE investors including Money Group Inc and Galaxy Digital LP. The company will use the proceeds for customer acquisition and research & development of new products.
The deal is expected to close in the first half of 2022, with the stock listing under the ticker ‘TRDE’ after the transaction closes. TradeStation is a financial technology platform that offers self-clearing online brokerage services for stocks, equity, index options, futures, and cryptocurrencies. TradeStation’s APIs enable access to execution, data, and other brokerage services from third-party fintech platforms, which is another avenue for account growth. Over 70 third-party platforms have been connected to TradeStation’s brokerage environment through an API.
Grab is teaming up with Lazada to provide same-day delivery services for their consumers in Singapore via GrabExpress. The partnership will also increase earning opportunities for GrabExpress delivery partners with an expanded pool of merchants.
Better Therapeutics has a low float of 1.5 million shares, which has resulted in a short squeeze, driving prices up 20%.