Economy News Shares

Alussa Energy Under Investigation, Shares Up


Alussa Energy Acquisition Corp. shares increased today, but, in connection with the business’s proposed merger with FREYR A/S a developer that is privately-held of battery cellular manufacturing ability. Under the regards to the merger agreement, ALUS will acquire FREYR via a reverse merger that will end up in FREYR learning to be a company that is general public in the NYSE. The deal suggests an expert forma equity value of $1.4 billion for the combined company.

WeissLaw LLP is investigating whether ALUS’s board acted within the interest that is most beneficial of ALUS’s public shareholders in agreeing towards the proposed transaction, perhaps the board ended up being completely informed as to the valuation of FREYR, and whether all information about the procedure undertaken by the board additionally the valuation for the deal will be completely and fairly disclosed to ALUS’s general public investors.

WeissLaw LLP has litigated a huge selection of stockholder class and derivative actions for violations of business and duties being fiduciary. Alussa Energy Acquisition Corp. shares increased today.

A estimate from Alussa. “We are excited and privileged to partner with FREYR, as this transaction represents a investment that is compelling to deal with the rapidly growing market for electrification of international transport and power systems. Moreover, Norway having its entrepreneurial towns and cities like Mo i Rana provide a foundation that is great FREYR’s Gigafactories.

We evaluated over 75 investment opportunities throughout the worldwide power and power transition sectors since our IPO in belated 2019, and FREYR clearly endured down as being a frontline player in adopting leading-edge battery technology to handle a substantial and growing market with a unique dedication to sustainability that is full-cycle.

We’ve complete self-confidence that FREYR’s experienced execution group, combined with money resources with this deal, including strategic investors Koch Strategic Platforms and Glencore, makes the business well-positioned to relax and play a role that is transformational decarbonizing global power and transport markets.”


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