Lotus Technology Secures $870M In Additional Financing Ahead of LCAA Merger
Portfolio Pulse from Benzinga Newsdesk
Lotus Technology Inc., a luxury electric vehicle maker, has secured around $870 million in PIPE financing and convertible notes in preparation for its planned merger with L Catterton Asia Acquisition Corp (LCAA), a SPAC affiliated with the investment firm L Catterton. This financial move comes ahead of the expected completion of the business combination.
November 28, 2023 | 6:35 am
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L Catterton Asia Acquisition Corp (LCAA) is set to merge with Lotus Technology, which has just raised $870 million in financing. This capital infusion could positively impact the merger process and the future growth prospects of the combined entity.
The additional financing secured by Lotus Technology is likely to be viewed positively by investors as it strengthens the company's financial position ahead of the merger with LCAA. This could lead to increased investor confidence in the success of the merger and the long-term prospects of the combined company, potentially driving up LCAA's stock price in the short term.
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