Core Viewpoint - StoreDot Ltd. and Andretti Acquisition Corp. II have announced a definitive business combination agreement to form a new holding company named "XFC Battery," which will focus on commercializing StoreDot's Extreme Fast Charging (XFC) battery technology for electric vehicles (EVs) [1][2]. Company Overview - StoreDot is a leader in XFC battery technology, capable of delivering 100 miles of charge in just 5 minutes, with plans to reduce this to 3 minutes [1]. - The company has established significant commercial traction and is engaged in development programs with leading global OEMs, indicating readiness for mass production [1][4]. Transaction Details - The business combination values StoreDot at an implied pre-money equity value of $800 million, with existing shareholders rolling over 100% of their equity into the new company [3][5]. - Andretti Acquisition Corp. II currently holds approximately $242 million in cash in trust, which is subject to redemption [3]. Market Opportunity - The combined entity aims to address the primary barrier to EV adoption: long charging times, thereby targeting the rapidly expanding EV battery market [4]. - StoreDot's scalable, asset-light business model is designed to be compatible with existing Lithium-ion production lines, facilitating mass-market adoption [4]. Leadership and Management - The combined company will be led by Dr. Doron Myersdorf as Chief Executive Officer, supported by StoreDot's experienced management team [4]. Closing Timeline - The transaction is expected to close in the second quarter of 2026, pending stockholder approval and satisfaction of customary closing conditions [6][7].