Research analysts covering Andretti Acquisition Corp. II.
Recent press releases and 8-K filings for POLE.
Andretti Acquisition Corp. II Amends Underwriting Agreement with BTIG, LLC for StoreDot Ltd. Business Combination
POLE
M&A
New Projects/Investments
- Andretti Acquisition Corp. II and BTIG, LLC entered into an amendment to their Underwriting Agreement on December 17, 2025, which is effective upon the closing of Andretti's initial business combination with StoreDot Ltd..
- The deferred underwriting commissions were reduced to $8.0 million. This amount will be paid entirely in cash if "Closing Cash" (cash and cash equivalents plus transaction financing proceeds) is at least $70.0 million; otherwise, $2.0 million will be paid in cash and $6.0 million in Class A ordinary shares of Pubco.
- BTIG, LLC was granted a right of first refusal to serve as a non-exclusive placement agent for any Transaction Financing related to the StoreDot Ltd. combination, with fees split 50% cash and 50% Pubco shares.
- Additionally, BTIG, LLC secured a right of first refusal to underwrite any new special purpose acquisition corporation formed by the Sponsor, Mario Andretti, or Michael Andretti within twelve months following the Target Transaction closing.
6 days ago
POLE Details Business Combination and Pubco Formation
POLE
M&A
Board Change
- The document outlines a business combination transaction where SPAC and the Company will become wholly-owned subsidiaries of Pubco, and Pubco will become a publicly traded company.
- The Company is required to deliver PCAOB audited annual financial statements for fiscal years ended December 31, 2023 and December 31, 2024, and PCAOB reviewed interim financial statements for the six-month period ended June 30, 2025.
- The parties will prepare and file a Form F-4 registration statement with the SEC to register Pubco securities.
- The Company, SPAC, and Pubco will seek Bridge Financing for at least $5.0 million and Additional Transaction Financing to reach aggregate cash proceeds of at least $32.0 million.
- The Pubco board of directors after the closing will consist of six directors, with up to five designated by the Company and one by the Sponsor.
Dec 9, 2025, 9:40 PM
Andretti Acquisition Corp. II and StoreDot Announce Business Combination
POLE
M&A
New Projects/Investments
- Andretti Acquisition Corp. II (POLE) and StoreDot Ltd. have signed a definitive agreement for a business combination, forming a new holding company named "XFC Battery".
- The combined entity will focus on commercializing StoreDot's Extreme Fast Charging (XFC) battery technology for electric vehicles, capable of delivering 100 miles of charge in just 5 minutes.
- The transaction values StoreDot at an $800 million pre-money equity value, with a pro forma enterprise value expected to be $882 million (assuming no redemptions).
- The business combination is anticipated to close in the second quarter of 2026.
Dec 3, 2025, 1:45 PM
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