ECARX, the automotive technology company backed by Geely Chairman Eric Li, will start trading on the Nasdaq today as a publicly listed company via a reverse SPAC merger that values it at $3.8 billion.
The public offering will raise an estimated $368 million after expenses, ECARX said in an investors’ presentation in November. Existing shareholders will retain 89 percent of their equity in the combined company.
ECARX’s partner in the SPAC (special purpose acquisition…
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