EV-Maker Lotus Tech Inks SPAC Deal to List on the Nasdaq

(DealStreetAsia) — Lotus Technology on Tuesday said it has inked a deal with the special purpose acquisition company (SPAC) L Catterton Asia Acquisition Corp. (LCAA), following which the Chinese luxury electric-vehicle maker will list in the U.S.

As per the deal, the merged entity will list on the Nasdaq and have an enterprise value of $5.4 billion, taking into account up to about $288 million of cash in LCAA’s account. Its EV manufacturing unit is based in China’s Wuhan.