The investors in the US$200 million PIPE include Koch Strategic Platforms, Hyundai Motor Co, Geely Holding Group, Kia Corp and General Motors Co, according to the people.
The agreement could be announced as soon as Tuesday, they said.
Representatives for SES and Ivanhoe declined to comment.
Singapore-based SES makes hybrid lithium-metal rechargeable batteries for electric vehicles.
Ivanhoe raised US$276 million including so-called greenshoe shares in its initial public offering in January. The shares of the combined company are expected to trade on the New York Stock Exchange under the symbol SES.
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Photo: Bloomberg
