NEW YORK – Aug. 3, 2026 – Global law firm Greenberg Traurig, LLP advised Cartesian Growth Corporation II, a special purpose acquisition company, on the signing of a definitive business combination agreement with InoBat AS (InoBat), a European battery energy storage systems and battery technology company.
The proposed transaction is expected to close in late 2026, subject to customary closing conditions including shareholder approval. There is no minimum cash condition. Following the closing, InoBat is expected to trade on Nasdaq under the ticker symbol “INBT.”
The transaction values InoBat at $1.265 billion, on a pre-money, pre-merger basis, including earn-out consideration tied to the achievement of strategic and financial milestones. The transaction also includes $77.5 million in private investment in public equity committed by institutional investors and InoBat’s current shareholders, according to the press release.
InoBat is positioning its platform to support the rapidly growing power demand from artificial intelligence infrastructure and hyperscale data centers. The company has contracted or delivered 875 megawatt-hour of utility-scale battery energy storage systems across Europe and serves industrial and utility customers through its BESSMONT platform.
The Greenberg Traurig team was led by Alan I. Annex, firm vice chair and global Corporate Practice senior chair, Corporate Shareholders Adam S. Namoury and Thomas R. Martin, and Corporate Associate Ricardo Crispim Leite.
Greenberg Traurig also advised Cartesian Growth Corporation III on its business combination with Factorial Inc., which closed earlier this year.