SBE - EV charger ChargePoint going public through $2.4B reverse merger with SPAC

EV charging company ChargePoint is returning to public trading through a reverse merger with SPAC SwitchBack Energy Acquisition (SBE). After the closing, the combined company will be named ChargePoint Holdings and trade on the NYSE.The combination has a $2.4B entperrise value and will give ChargePoint $493M in net proceeds to fuel its commercial, fleet, and residential businesses.Institutional investors including Baillie Gifford are adding a $225M upsized PIPE to the transaction at $10/share.ChargePoint has more than 4,000 organizational and business customers, offers more than 115,000 places to charge, and offers access to 133,000 additional charging locations through network roaming integrations throughout North America and Europe.Previously: EV charging network ChargePoint nearing reverse merger to go public (Sep. 16 2020)

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EV charger ChargePoint going public through $2.4B reverse merger with SPAC