Cartesian Growth Corp III
CGCT · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from CGC III Sponsor LLC, listed on Nasdaq in May 2025.
- What it's doing now
- It agreed to buy Factorial Energy Inc.. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Factorial Energy Inc. — Founded and headquartered in the Boston, Massachusetts, area, Factorial operates at the forefront of solid-state battery development, offering safe, high-performance alternatives to traditional lithium-ion technologies.
- Industry
- the deal record does not name the target's industry yet
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 5 May 2025
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 805 MIDDLESEX TURNPIKE, BILLERICA, MA, 01821
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Zetsche Dieter (Director) · Robinson Mark Ivers · Sahay Praveen Kant
- Listed securities
- CGCT common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 5 May 2025IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closed
What Factorial Energy Inc. does — read from factorialenergy.com on 26 August 2026
Factorial Energy develops high-performance solid-state batteries for eMobility, defense, and AI/robotics. Its platforms include FEST (quasi-solid-state), Solstice (all-solid-state), and Gammatron (AI/machine learning). The company emphasizes American technology leadership, economic and supply chain resilience, and industrialization.
eMobilitydefenseAI/roboticsautomotiveaviation/dronepower toolsDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A- PIPE
- ≈ $100M · unsourced
PIPE terms — instrument, coupon, conversion price and any reset floor — are not sourced for this deal. The size above is itself unsourced — a stored figure no filing we hold states — so neither the size nor the terms should be read as cited.
stated in:0001104659-26-035439
The score
deterministic, from filed fieldsCGCT is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Cartesian Growth Corp III is a blank-check company, also known as a special purpose acquisition company (SPAC), incorporated in the Cayman Islands and headquartered in New York, New York, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company is sponsored by CGC III Sponsor LLC and is led by Peter Yu, who serves as Chairman of the Board and Chief Executive Officer, with Rafael de Luque as Chief Financial Officer and Director. The company's securities are listed on Nasdaq under the common stock ticker CGCT.
The company priced its initial public offering on May 5, 2025, under SEC Registration Statement No. 333-284565, with units consisting of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable to purchase one Class A ordinary share at $11.50 per share. The trust account held $10.00 per unit. A Form S-1MEF was filed on May 1, 2025, registering 4,600,000 additional units pursuant to Rule 462(b) of the Securities Act. The offering was conducted on a cash basis, consistent with an IPO rather than merger consideration.
The SPAC subsequently completed a business combination with Factorial Energy, Inc., a solid-state battery technology company for electric vehicles, and the registrant's identity was changed to Factorial Energy, Inc. upon closing. The transaction closed on or about June 10, 2026, as evidenced by an 8-K filing (Item 5.06, Change in Shell Company Status), at which point Cartesian Growth Corp III ceased to be a shell company. Factorial Energy, which trades on Nasdaq under the ticker FAC, develops solid-state battery technology with joint development agreements with Mercedes-Benz, Stellantis N.V., and Hyundai Motor Company, and has begun North American road testing of solid-state battery technology in a Dodge Charger Daytona development vehicle with Stellantis.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
This is the successor's first reporting cycle after the merger and the risk list is framed around realizing that transaction's benefits and the cash runway it provided. The condensed consolidated financial statements are not in the portion read here, so no cash, revenue or runway figure is attributed.
The registered amounts are the dilution ceiling for this deal and they are stated as three separate caps: 143,912,243 shares, 16,200,000 warrants, and the 16,200,000 shares those warrants would become if exercised — the warrant overhang is a distinct claim on the equity and should not be folded into the share figure. The Cayman-to-Delaware domestication moves shareholder rights under the DGCL before the merger closes. The business combination agreement has been amended once, on March 26, 2026; the document records that the amendment exists but not what it changed.
The three registered caps — 143,912,243 shares, 16,200,000 warrants and the 16,200,000 shares underlying them — bound the equity this deal can issue, and the warrant leg is a separate claim that should be counted separately from the share leg. The domestication moves shareholder rights to Delaware law before the merger. The document records one amendment to the business combination agreement, dated March 26, 2026, without saying what it altered. No vote date and no redemption deadline are set here.
This is the baseline version of the CGC/Factorial registration and it already carries the full dilution ceiling: 143,912,243 shares, 16,200,000 warrants, and the 16,200,000 shares those warrants would become on exercise, which is a separate claim on the equity and should be counted separately. The business combination agreement was amended on the very date of this prospectus; the document records that the amendment exists but not what it changed. No vote date and no redemption deadline are established here.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
What changed: Factorial Energy Inc. (Nasdaq: FAC) reported under Item 2.02 that on August 11, 2026 it issued a press release and a shareholder letter announcing its results for the quarter ended June 30, 2026, furnished as Exhibits 99.1 and 99.2, and under Item 7.01 that it released an updated investor presentation, furnished as Exhibit 99.3. None of the figures or content of those documents appears in this filing, and all three are furnished rather than filed. Why it matters: The 8-K records only that results and a presentation were released; the numbers are in the furnished exhibits and carry no Section 18 liability.
What changed: The 10-Q filed under Commission file number 001-42629 is that of Factorial Energy Inc. (Nasdaq: FAC, warrants at $11.50) for the quarter ended June 30, 2026, with 91,510,501 shares of Series A and 15,512,744 shares of Series B common stock outstanding as of August 7, 2026. The forward-looking-statements section names the company's ability to realize the anticipated benefits of the Merger, its expected cash runway, its ability to maintain the Nasdaq Global Market listing of the Series A common stock, and its limited operating history and efforts to commercialize its products. Why it matters: This is the successor's first reporting cycle after the merger and the risk list is framed around realizing that transaction's benefits and the cash runway it provided. The condensed consolidated financial statements are not in the portion read here, so no cash, revenue or runway figure is attributed.
trust account, going-concern doubt, sponsor loans outstanding +1nothing moved · 4 with no prior record of ours
- Trust account
- $285.9Mnot matched in this filing
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $250Knot matched in this filing
- Redeemable shares
- 27.6Mnot matched in this filing
The clause …“of its audited annual consolidated financial statements, which raised substantial doubt about the Company’s ability to continue as a going concern. The Company has experienced net losses and negative cash flows from operations”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
CGC III Sponsor LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/2 · 100.0% of the $10 unit
from 424B3 0001104659-26-056342
Trading & liquidity
Company profile
Directors & officers
- Zetsche DieterDirector
- Robinson Mark Ivers10% owner
- Sahay Praveen Kant10% owner
- Crocker Uriel Haskell II10% owner
- Scuteri Jeffrey T. Jr.Principal Accounting Officer
- MEIDAR LIAD YDirector
- Keller UweDirector
- Nelson Jon K.Director
- Taylor Joseph MichaelDirector
- Wei RichardChief Financial Officer
News
company wires and the financial pressReporting we have matched to this ticker. Headlines belong to the outlets that wrote them.
Show the headlines
- Factorial and Cartesian Growth Corporation III Announce Approval of Business Combination by Cartesian Growth Shareholders
GlobeNewswireundated by the source
- Factorial and Cartesian Growth Corporation III Announce Business Combination Agreement to Accelerate Commercialization of Solid-State Battery Technology
Business Wireundated by the source
- Bringing Solid-State Batteries From Validation to Scale
SEC EDGARundated by the source
- Factorial Energy Raises $200 Million To Accelerate Commercialization of its Novel Solid-state Batteries for Electric Vehicles
GlobeNewswireJan 20, 2022
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
34 full SEC filing texts archived — searchable, never lost.
- Vault note — CGCT (Cartesian Growth Corp III)
vault-note · /vault/tickers/CGCT
- Vault deal note — Factorial Energy Inc. (CGCT)
vault-note · /vault/deals/factorial-energy-inc
- Factorial Energy Raises $200 Million To Accelerate
news · globenewswire.com
- Factorial Energy Company Overview, Contact Details & Competitors | LeadIQ
news · leadiq.com
- Factorial Electrolyte System Technology | Factorial Energy
company-site · factorialenergy.com
- High-Performing Solid-State Batteries | Factorial Energy
company-site · factorialenergy.com
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail5 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 3690 (Miscellaneous Electrical Machinery, Equipment & Supplies). The screen found it by filing SHAPE instead — S-1 2025-01-29 → 8-A12B 2025-05-01 → 424B4 2025-05-05 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 3690 + self-described blank check in 424B4 0001104659-25-044283; 424B 0001104659-25-044283 priced 2025-05-05 under S-1 0001104659-25-006780 (file 333-284565, an offering for cash); common ticker CGCT off 10-Q 0001104659-26-062778 (2026-05-15); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-284565, which belongs to S-1 0001104659-25-006780 (2025-01-29) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2025-05-05). Ending PROVEN, not inferred: CLOSED per 8-K 0001104659-26-072433 (2026-06-10) — 8-K item 5.06 "Change in Shell Company Status" (EDGAR item index, items: 1.01,2.01,3.02,3.03,4.01,5.01,5.02,5.03,5.05,5.06,7.01,8.01,9.01). ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "CGC III Sponsor LLC" sourced from prospectus definition (10-K) acc 0001104659-26-032882.
"Factorial Energy Inc." is the registrant's CURRENT identity, adopted when the combination closed — EDGAR renames on the closing day, so the rename predates the ending we store and every date-based check cleared it; the vehicle traded as "Cartesian Growth Corp III" per the COMPANY CONFORMED NAME in 424B4 0001104659-25-044283 filed 2025-05-05. §98
[CLOSED-RENAME] EDGAR CIK 0002049662 records "Cartesian Growth Corp III" ending 2026-05-28; the registrant continues as "Factorial Energy Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2026-05-28. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=100 from primary filings (0001104659-26-035439).
pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow