On December 8, 2021, Solid Power, an industry-leading developer of all-solid-state battery cells for electric vehicles, announced the completion of its previously announced business combination following a special meeting of Decarbonization Plus Acquisition Corporation III’s (DCRC) stockholders on December 7, 2021. The combined company retained the Solid Power name and its common stock and warrants began trading on the Nasdaq Global Select Market under the ticker symbols "SLDP" and "SLDPW," respectively, on December 9, 2021. Wilson Sonsini Goodrich & Rosati represented Solid Power in the transaction.
Solid Power received gross proceeds from the transaction of approximately $542.9 million from its fully committed $195 million PIPE and the receipt of approximately $347.9 million of cash from DCRC’s trust account net of redemptions. Of the shares voted at the special meeting of DCRC stockholders on December 7, 2021, over 99.9 percent voted to approve the business combination. In addition, only 0.6 percent of shares held by DCRC’s public stockholders were redeemed.
The Wilson Sonsini team that represented Solid Power in the transaction includes:
Corporate
Mark Baudler
Bob O’Connor
Austin March
Kayla Kirk
Ben Armuth
M&A
Ethan Lutske
Kenji Strait
Emma Sarkisyan
Litigation
Ignacio Salceda
Corporate - Delaware
Amy Simmerman
Ryan Hart
Technology Transactions
Adam Shevell
For more information, please see Solid Power's press release. For further coverage, visit The Denver Post, TechCrunch, or CNBC.