Cartesian Growth Corp III

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.

Cartesian Growth Corporation III (CGC) announced the consummation of its previously announced business combination with Factorial Inc. on June 5, 2026. As part of the transaction, CGC completed its domestication as a Delaware corporation and subsequently changed its corporate name to Factorial Energy Inc. (PubCo). The PubCo Series A Common Stock and PubCo Public Warrants have been approved for listing on the Nasdaq Capital Market and will begin trading under the new symbols "FAC" and "FACWW" respectively, starting June 8, 2026. Prior to the domestication, 23,051,313 Class A ordinary shares were redeemed.

Cartesian Growth Corporation III (CGCT) announced that its shareholders approved the proposed business combination with Factorial Inc. at an extraordinary general meeting held on May 27, 2026. All key proposals, including the Business Combination, Domestication, and various stock issuance proposals, received sufficient votes for approval. The closing of the business combination is subject to customary conditions, after which the combined company will be renamed Factorial Energy Inc. and its shares are expected to trade on Nasdaq under the ticker symbol "FAC".

Cartesian Growth Corporation III issued an unsecured promissory note for $150,000 to its sponsor, CGC III Sponsor LLC, on May 18, 2026. The note does not bear interest and is payable upon the earlier of the company's initial business combination or its winding up. The sponsor has the option to convert the principal into Working Capital Warrants at $1.00 per warrant if a business combination is consummated.

Cartesian Growth Corp III (CGCT) entered into Amendment No. 2 to its Business Combination Agreement with Factorial Inc. and Merger Sub. This amendment specifies that upon the closing of the Business Combination and domestication as a Delaware corporation, CGCT will change its name to "Factorial Energy, Inc.". Additionally, a Letter Agreement was executed with an institutional investor and the sponsor, allowing the institutional investor to satisfy part of its 7.5 million share purchase obligation by acquiring up to 2 million Class A ordinary shares in open market transactions, with Factorial reimbursing the sponsor for any price differential.

Cartesian Growth Corporation III reported a net income of $1,680,417 for the three months ended March 31, 2026, a significant improvement from a net loss of $20,449 in the prior year period. This income was primarily driven by $2,491,718 in interest earned on investments held in its Trust Account. The company, a blank check company, continues to seek a business combination, with its Trust Account growing to $285.87 million. However, management noted substantial doubt about the company's ability to continue as a going concern due to its liquidity condition.

Cartesian Growth Corporation III (CGCT) and Factorial Inc. announced that their joint registration statement on Form S-4 for their previously announced business combination was declared effective by the SEC on May 6, 2026. An extraordinary general meeting of Cartesian III shareholders to approve the combination is scheduled for May 27, 2026. The proposed business combination is expected to result in a pro forma equity value of approximately $1.5 billion, including a $100 million PIPE investment. Factorial also highlighted recent milestones, including a strategic investment by IQT, a partnership with Karma Automotive, and strengthening its global supply chain.