Welcome to our dedicated page for Andretti Acquisition II news (Ticker: POLEU), a resource for investors and traders seeking the latest updates and insights on Andretti Acquisition II stock.
Andretti Acquisition Corp. II (POLEU) is a Nasdaq-listed special purpose acquisition company in the Financial Services sector, categorized among shell companies. Its public communications describe it as a blank check company formed to complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. News related to Andretti Acquisition Corp. II therefore centers on capital markets activity and potential or announced transaction targets rather than traditional operating results.
A key news theme for Andretti Acquisition Corp. II is its announced definitive Business Combination Agreement with StoreDot Ltd., an Israeli company focused on Extreme Fast Charging (XFC) battery technology for electric vehicles. Coverage of this transaction highlights the plan to combine under a newly formed holding company expected to be named XFC Battery, with shares anticipated to be listed on the Nasdaq Stock Market, subject to approvals and closing conditions. Articles discuss StoreDot’s XFC technology, which is described as capable of delivering 100 miles of charge in 5 minutes, and the combined entity’s focus on addressing charging time as a barrier to electric vehicle adoption.
Investors following POLEU news can expect updates on the progress of the proposed Business Combination, including regulatory filings, shareholder meeting materials, and any changes to transaction terms or conditions. Earlier news also covers Andretti Acquisition Corp. II’s initial public offering, unit structure, and trust account funding. For those tracking SPAC activity and developments in electric vehicle battery technology, this news feed offers a centralized view of official announcements and market-facing communications related to Andretti Acquisition Corp. II and its proposed combination with StoreDot.
StoreDot and Andretti Acquisition Corp. II (POLEU) signed a definitive business combination to form a Nasdaq-listed holding company named XFC Battery to commercialize StoreDot’s Extreme Fast Charging (XFC) batteries. The transaction values StoreDot at a $800 million pre-money equity and a pro forma enterprise value of $882 million (assuming no redemptions). StoreDot claims production-ready XFC cells delivering 100 miles in 5 minutes with a roadmap to 3 minutes, and reports active OEM validation programs. Close is expected in Q2 2026, subject to shareholder approvals, financing commitments and regulatory clearances.
Andretti Acquisition Corp. II (Nasdaq: POLEU) has announced that starting October 28, 2024, investors can separately trade its Class A ordinary shares and warrants, which were previously combined in units. The separated Class A ordinary shares and warrants will trade on the Nasdaq Global Market under the symbols 'POLE' and 'POLEW' respectively, while unseparated units will continue trading as 'POLEU'. Only whole warrants will be tradeable, with no fractional warrants being issued. BTIG, served as the sole book-running manager for this offering.
Andretti Acquisition Corp. II has successfully completed its initial public offering (IPO), raising $230 million by selling 23 million units at $10 per unit. Each unit comprises one Class A ordinary share and half a redeemable warrant. The units began trading on Nasdaq under the symbol 'POLEU' on September 6, 2024. Once separate trading begins, shares and warrants will trade as 'POLE' and 'POLEW' respectively.
The company, a blank check company, aims to merge or acquire businesses, focusing on assets with growth potential. Led by William J. Sandbrook as Chairman and William M. Brown as CEO, with Michael M. Andretti as Special Advisor and Director, the management team also includes racing legend Mario Andretti as Special Advisor. BTIG, served as the sole book-running manager for the offering.