StoreDot

Per Andretti's own SEC filing, the parties entered a Termination and Release Agreement on February 17, 2026, mutually terminating the business combination in its entirety, with all related agreements void and each party releasing the others from liability. StoreDot then disclosed it was raising capital independently — several tens of millions of dollars — to continue operating and avoid liquidation.

In 11/2025, StoreDot Ltd. and Andretti Acquisition Corp. II (POLEU), a special purpose acquisition company, announced a definitive agreement to merge and form a holding company named XFC Battery, whose shares are expected to be listed on the Nasdaq Stock Market LLC. The combined company is assigned a pro forma enterprise value of $882M, assuming no redemptions by Andretti’s public shareholders, while the transaction values StoreDot at an $800M pre-money equity valuation, with existing StoreDot shareholders, optionholders, and warrantholders rolling over 100% of their equity.

In March 2021 StoreDot began negotiations to merge with a Wall Street SPAC at a $3.5B valuation. JP Morgan is leading the process. Among other Israeli tech companies went public in 2021: REE Automotive (electric vehicles) at $3.1B valuation (01/2021); Otonomo (car data processing) at $1.4B (08/2021).