Andretti Acquisition II (POLE, POLEU) and StoreDot said Wednesday they signed a deal to take StoreDot public through a newly formed company focused on commercializing its fast-charging EV battery technology.

The companies said the deal assigns StoreDot an $800 million pre-money valuation, with all existing equity rolling into the new entity, XFC Battery.

The deal, slated to close in Q2 2026, carries a projected enterprise value of about $882 million if Andretti's public holders do not redeem their shares, the companies said. Andretti has about $242 million in its trust, subject to redemptions, according to the statement.