Recent Updates — RENEF

Cartesian Growth Corporation II, a SPAC, filed an 8-K to make publicly available an investor presentation regarding its proposed business combination with InoBat AS, a Norwegian battery technology company. The filing indicates that the parties intend to file a Form F-4 registration statement, including preliminary and definitive proxy statements, to solicit shareholder approval for the transaction. This is a standard procedural step in SPAC merger processes and does not constitute a final agreement or material event altering valuation at this stage. Cartesian Growth Corporation II operates as a blank check company focused on effecting a business combination with a private operating company.

Cartesian Growth Corp II shareholders approved an amendment to extend the company's termination date from August 5, 2026, to August 5, 2027. In connection with this extension vote, holders of 2,601,058 Class A ordinary shares exercised their redemption rights at approximately $12.50 per share, resulting in an aggregate payout of $32.5 million. This left a remaining balance of $5.9 million in the trust account to fund future operations or business combinations. Cartesian Growth Corp II operates as a blank check company (SPAC) focused on identifying and merging with private businesses.

Cartesian Growth Corporation II entered into a Business Combination Agreement with InoBat AS to value the company at $1.265 billion, comprising $575 million in upfront consideration and $690 million in potential earn-out consideration. The transaction includes $77.5 million in committed PIPE financing and is expected to close in the fourth quarter of 2026. Cartesian Growth Corporation II is a special purpose acquisition company focused on business combinations. InoBat AS is a battery energy storage systems and battery technology manufacturer.

Cartesian Growth Corporation II postponed its extraordinary general meeting in lieu of an annual meeting of shareholders to July 30, 2026, from its original July 27, 2026, date. The meeting's purpose is to vote on an amendment to the company's articles of association to extend the deadline for its initial business combination from August 5, 2026, to August 5, 2027. The redemption deadline for shareholders to exercise or reverse redemption rights has been extended to July 28, 2026. Cartesian Growth Corporation II is a blank check company operating in the financial services sector through its SPAC structure.