ZincFive, which is engaged in nickel-zinc battery technology for data center and AI infrastructure immediate power solutions, entered into a business combination agreement with Spark I Acquisition, a NASDAQ-listed SPAC formed by SparkLabs Group.
The transaction will take ZincFive public, providing capital to expand its proprietary battery technology for critical infrastructure applications.
The transaction represents a pro forma enterprise value of about $752 million and, upon completion, is expected to result in ZincFive becoming a Nasdaq-listed company under the ticker symbol ZFIV and under the name ZincFive.