L Catterton Asia Acquisition Corp Class A Ordinary Shares

LCAA

Market cap $391M

NEW YORK and SINGAPORE , Feb. 23, 2024 /PRNewswire/ -- Lotus Technology Inc. ("Lotus Tech" or the "Company"), a leading global luxury electric vehicle maker, rang today's opening bell at the Nasdaq stock exchange in New York City in celebration of its public listing. The Company's American depositary shares ("ADSs") commenced trading today on the Nasdaq Stock Market LLC ("Nasdaq") under the ticker symbol "LOT" following the completion of its business combination on February 22, 2024 with L Catterton Asia Acquisition Corp ("LCAA"), a special purpose acquisition company ("SPAC") formed by affiliates of L Catterton, a leading global consumer-focused investment firm.

Shares of Lotus Technology closed up 2% in their Nasdaq debut on Friday, recouping earlier losses, after the luxury electric car maker completed its merger with a blank-check acquisition company backed by private equity firm L Catterton.

Lotus Technology CFO Alexious Lee explains why the electric-vehicle maker decided to go public via SPAC. Speaking with Katie Greifeld on Bloomberg Television, Lee also discusses the company's position in the EV market and its commitment to electrification.

NEW YORK and SINGAPORE , Feb. 22, 2024 /PRNewswire/ -- Lotus Technology Inc. ("Lotus Tech" or the "Company"), a leading global luxury electric vehicle maker, and L Catterton Asia Acquisition Corp ("LCAA") (NASDAQ: LCAA), a special purpose acquisition company formed by affiliates of L Catterton, a leading global consumer-focused investment firm, today announced the completion of their previously announced business combination ("Business Combination"). The listed company following the Business Combination is "Lotus Technology Inc." and its American depositary shares ("ADSs") are expected to commence trading on the Nasdaq Stock Market LLC ("Nasdaq") under the ticker symbol "LOT" on February 23, 2024.

Lotus Technology, the luxury electric vehicle arm of sports car brand Lotus, said on Tuesday it has secured $870 million in financing ahead of the completion of its merger with blank check company L Catterton Asia Acquisition (LCAA).