AltEnergy Acquisition Corp. and Car Tech LLC Announce Merger to Form Publicly Traded NASDAQ Company

Congratulations to our client AltEnergy Acquisition Corp. (NASDAQ: AEAE), a special purpose acquisition company, which announced a definitive business combination agreement with Car Tech, LLC, a U.S. stamped auto-body parts manufacturer and subsidiary of leading Korean supplier, Shinyoung Co., Ltd., that will result in Car Tech becoming a publicly traded company on the NASDAQ Capital Market. The transaction, announced February 21, 2024, aims to expand Car Tech's U.S. manufacturing operations with an emphasis on its growing electric vehicle battery-related body parts business.

The proposed merger, unanimously approved by the boards of both entities, is expected to be completed in the first half of 2024. Car Tech will become a wholly-owned subsidiary of AltEnergy and AltEnergy will be renamed at closing.

The Morrison Cohen Corporate team included Partners Jack Levy and Walter Rahmey and Associates Briony Driscoll, Jess Gorski and Molly Mitlak. Partner Michael Weinstein provided tax advice; Senior Counsel Michael Oppenheimer and Associate Michael McGovern advised on benefits and compensation matters; Partner Jessica Lipson and Associate Nicole Rallis advised on technology, data and IP matters; Associate Savannah M. Holzwarth advised on real estate matters; and Associate Cassandra Branch advised on labor and employment matters.

Read the press release on Market Wire News.