MergerJun 10, 2026, 05:31 PM
Factorial Energy Inc. Completes Business Combination with Cartesian Growth Corp III
AI Summary
Cartesian Growth Corp III (CGC) announced the completion of its business combination with Factorial Inc. on June 5, 2026. Following the transaction, CGC was renamed Factorial Energy Inc. (PubCo) and its shares began trading under the new ticker symbol 'FAC'. The transaction involved the domestication of CGC as a Delaware corporation and the merger of Merger Sub with Factorial. Factorial reported a net loss of $8.6 million for the first quarter of 2026, an improvement from $12.9 million in the same period last year, with cash and cash equivalents of $25.4 million as of March 31, 2026.
Key Highlights
- Cartesian Growth Corp III (CGC) completed its business combination with Factorial Inc. on June 5, 2026.
- CGC was renamed Factorial Energy Inc. (PubCo) and began trading under the ticker FAC.
- The business combination involved a domestication of CGC and a merger of Merger Sub with Factorial.
- Factorial's Series A, B, C, and D redeemable convertible preferred stock liquidation preference totaled $249,652 thousand as of March 31, 2026.
- Factorial reported a net loss of $8,575 thousand for the three months ended March 31, 2026, compared to $12,870 thousand in the prior year.
- As of March 31, 2026, Factorial had cash and cash equivalents of $25,449 thousand.
Price Impact
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