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SPAC Prime Number I to merge with EV battery tech developer Noco-Noco

Dec. 30, 2022 2:56 PM ETnoco-noco Inc. (NCNC) StockBy: Val Brickates Kennedy, SA News Editor

SPAC - Special Purpose Acquisition Company -- text on stock market and abstract background

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SPAC Prime Number Acquisition Corp. I (NASDAQ:PNAC) said it has entered into a business combination agreement with EV battery technology developer Noco-Noco.

Prime Number said in a filing that the deal values Noco-Noco at around $1.35B. The SPAC describes Noco-Noco as a development-stage manufacturer of carbon-zero EV battery technologies.

The SPAC went public in May 2022, raising $64.5M. 

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