By Ben Klayman
DETROIT (Reuters) - ChargePoint Inc, one of the world's oldest and largest electric vehicle charging networks, said on Thursday it will go public by merging with Switchback Energy Acquisition Corp <SBE.N> in a deal that values the company at $2.4 billion.
The deal is expected to close near the end of the year and the company will be named ChargePoint Holdings Inc. A trading symbol on the New York Stock Exchange has not been identified.
Reuters last week reported ChargePoint and Switchback were nearing a deal. Switchback is a special-purpose acquisition company (SPAC) that raised $300 million in an initial public offering in July 2019.
"The EV charging industry is accelerating and it is expected that charging infrastructure investment will be $190 billion by 2030," Switchback Chief ...
Read More on Datafloq
No comments:
Post a Comment