CGCT Heads Into Key Week With Factorial Deal Nearing Nasdaq Ticker Switch
Cartesian Growth Corporation III was active premarket Monday after the SPAC dropped 7.19% to $12.53 Friday. Traders looked at the shareholder-backed merger with Factorial Inc., a solid-state battery maker, but heavy redemptions hit the deal. Premarket volume was light, and a market data feed had CGCT at $13.07 as of 8:10 a.m. EDT. Cartesian is now more than a blank-check company. The SPAC—essentially a listed cash shell set up to merge with a private firm—got shareholder approval for the Factorial deal at its May 27 special meeting. That cleared the main investor hurdle before the company can go ahead with shifting the listing.