Freyr SPAC Merger: 14 Things for ALUS Stock Investors to Know About the Clean Battery Play <br /> The deal closes in Q2 2021 <br /> By William White, InvestorPlace Writer Jan 29, 2021, 11:38 am EST <br /> Freyr is planning to go public via a merger with special purpose acquisition company (SPAC) Alussa Energy Acquisition (NYSE:ALUS) and shares of ALUS stock are on the rise Friday. <br /> <br /> two businessmen shaking hands with peers at their side <br /> Source: Shutterstock <br /> Here’s everything potential ALUS stock investors need to know about Freyr ahead of its SPAC merger. <br /> <br /> Freyr is a clean battery company with plans to expand its business with higher production. <br /> That includes reaching 43 GWh of battery cell production by 2025. <br /> Doing so would make it one of the largest battery cell suppliers in Europe. <br /> It plans to locate its battery production facilities in Northern Norway to take advantage of its clean energy sources. <br /> The company says that it will create batteries for use in electric vehicles (EVs), as well as for energy storage and marine applications. <br /> Today’s news notes that the combined company from the Freyr and Alussa Energy SPAC merger would have a value of $1.4 billion. <br /> The SPAC merger will provide Freyr with $850 million in net proceeds. <br /> $600 million of this comes from a private investment in public equity (PIPE). <br /> Once the merger is complete, current Freyr shareholders will own 30% of the combined company. <br /> When the deal closes, the new company will operate under the name Freyr Battery. <br /> This will also see shares of ALUS stock change to the FREY stock ticker. <br /> The merger is expected to close in the second quarter of 2021 <br /> ALUS stock is seeing heavy trading on the news with some 8 million shares having changed hands as of this writing. <br /> The stock’s daily average trading volume is only about 112,000 shares.