Lithium boss in $347m battery SPAC

Peter Ker and Jonathan Shapiro

Nov 25, 2021 – 12.11pm

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Former Galaxy Resources chief executive Simon Hay is the latest Australian mining executive to pursue a special purpose acquisition company (SPAC) in the United States.

Mr Hay will be chairman of Battery Future Acquisition Corporation, which will seek to raise $US250 million ($346.9 million) through an initial public offering on the New York Stock Exchange with a view to buying assets linked to the rise of electric vehicles.

Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.