PALO ALTO, U.S. -- SES, a lithium-metal battery startup backed by leading carmakers including Honda, Hyundai, and GM, started trading on the New York Stock Exchange on Friday.
Its shares dropped nearly 8% to close at $7.08 on the first day. The company debuted on the NYSE after completing its merger with the special purpose acquisition company Ivanhoe Capital Acquisition at a valuation of $3.4 billion.
