L Catterton Asia Acquisition Taking Lotus Technology Public in $5.4B Deal

Lotus Technology, a luxury maker majority owned by China's Geely Holdings, today announced plans to merge with L Catterton Acquisition at an implied $5.4 billion enterprise value. Lotus Technology does not include the traditional car assets of Lotus, which was founded in 1948. Geely also owns Volvo.

If the SPAC's shareholders approve the deal, Lotus Technology shares are expected to list on the under the ticker symbol LOT.

Terms call for Lotus to receive up to $288 million from the SPAC's trust account, assuming no redemptions.

All existing Lotus Tech equity holders, including Geely Holding, Etika, NIO Capital and othrs, are expected to retain their interests in Lotus Tech and would own approximately 89.7% of the combined company.

 in Germany, as well as Wuhan, Shanghai, and Ningbo in China. Read more.


Source: L Catterton Asia Acquisition Taking Lotus Technology Public in .4B Deal