Battery Future Acquisition Corp. Closes US$345M IPO

Winston & Strawn LLP represented Battery Future Acquisition Corp. in connection with its IPO of 34,500,000 units, including 4,500,000 units issued pursuant to the full exercise of the underwriters’ over-allotment option, at a price of US$10.00 per unit. The units are listed on the NYSE and began trading under the ticker symbol “BFAC.U” on December 15, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share of the Company at a price of US$11.50 per share. After the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “BFAC” and “BFAC.WS,” respectively. Battery Future Acquisition Corp. is a blank check company with a business purpose to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any industry or geographic region (excluding China), it intends to focus its search on industries spearheading the shift from fossil fuels to electrification, including companies in the battery value chain from the mine site to end user to after-life battery and component recycling. Cantor Fitzgerald & Co. acted as the sole book-runner, and Roth Capital Partners acted as the co-manager for the offering.