Battery Future Acquisition Corp. is a SPAC — a blank check company with no operations or revenue — formed solely to find and merge with a private company, taking it public in the process. Battery Future raised $345M in its December 2021 IPO, with proceeds held in a Trust Account. Following significant shareholder redemptions, roughly $56.3M remains in trust, and Battery Future must complete an acquisition by June 17, 2024 or liquidate and return remaining trust funds to shareholders. Battery Future can pursue targets in any industry or geography except China. The sponsor, Battery Future Sponsor LLC, acquired Founder Shares for roughly $25,000 — shares that convert into equity worth multiples of that amount upon a successful deal, which is the primary economic incentive for the sponsor to complete a transaction. Public shareholders provide the capital held in trust and can redeem their shares at approximately the trust value per share if they choose not to participate in a specific deal.