Factorial Energy Inc.

Factorial Energy began trading on NASDAQ under the ticker FAC on June 5th following the completion of its reverse merger with special purpose acquisition company Cartesian Growth Corporation III. Billionaire Glenn Dubin’s Highbridge Capital disclosed a stake worth $20.7 million, consisting of two million shares, as of the first quarter. The hedge fund had initially held Cartesian Growth shares in the second quarter of 2025 before exiting, then re-entered in the fourth quarter of 2025 at an average price of $10.15 per share. Since the merger, Factorial Energy’s shares have declined 16.8%. The company develops solid-state batteries for defense, robotics, and other industries, and its CEO expressed optimism about its position in a shareholder letter following the debut.