Ivanhoe Capital Acquisition Corp.: insider trades · United States · SEC (Form 4)

About Ivanhoe Capital Acquisition Corp.

Ivanhoe Capital Acquisition Corp. (ticker: IVAN) was a NYSE-listed U.S. special purpose acquisition company (SPAC) formed in the United States to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more target businesses. The company was incorporated as a Cayman Islands exempted company in July 2020 and came to market in early 2021 via an IPO, with an original mandate focused on opportunities tied to the transition away from fossil fuels and toward electrification. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1819142/000110465921080762/ivan-20210331x10q.htm?utm_source=openai)) From an investor’s perspective, the key point is that IVAN is no longer just a blank-check vehicle. It is best understood through its business combination with SES, a U.S.-based developer of high-performance lithium-metal batteries for electric vehicles. The transaction was announced in 2021 and closed on February 3, 2022; the combined company began trading on the New York Stock Exchange under the SES and SES WS symbols, and Ivanhoe Capital Acquisition Corp. was renamed SES AI Corporation. ([businesswire.com](https://www.businesswire.com/news/home/20220203005953/en/SES-Announces-Closing-of-Business-Combination-With-Ivanhoe-Capital-Acquisition-Corp.?utm_source=openai)) The strategic rationale was centered on advanced battery technology. SES’s core value proposition is its lithium-metal battery platform, which targets higher energy density and improved performance relative to conventional chemistries. That positions the company in a technically demanding and highly competitive part of the EV supply chain, where the market is dominated by large Asian battery manufacturers but also includes a limited number of innovation-led U.S. players. The 2021 announcement also highlighted strategic investors and automotive development partners, which helped validate the industrial and commercial relevance of the platform. ([nasdaq.com](https://www.nasdaq.com/press-release/ses-a-lithium-metal-battery-supplier-for-electric-vehicles-to-list-on-nyse-via-0?utm_source=openai)) Geographically, the combined company is anchored in the United States, with a primary facility in Woburn, Massachusetts, serving as headquarters and housing chemistry, materials, and algorithm R&D. The company also maintains an office in Seoul focused on supply chain execution, customer relations, and regional partnerships. This dual footprint reflects a business model that is U.S.-led but globally integrated, particularly across automotive and battery manufacturing ecosystems. ([fintel.io](https://fintel.io/doc/sec-ses-ai-corp-1819142-10k-2025-february-28-20147-5325?utm_source=openai)) Historically, Ivanhoe itself did not operate as a traditional industrial business; its role was to identify and merge with a high-potential electrification target. The post-deal company therefore inherits the operating profile, product roadmap, and execution risks of SES AI Corporation rather than those of a standalone SPAC. For equity investors, the most relevant recent developments are the completed business combination, the NYSE listing continuity under the new corporate identity, and the ongoing effort to commercialize advanced battery technology at scale. That makes the investment case primarily one of technology execution, manufacturing readiness, and eventual adoption in the EV market. ([sec.gov](https://www.sec.gov/Archives/edgar/data/0001819142/000181914225000058/ses-20241231xars.pdf?utm_source=openai))