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Shares of special purpose acquisition company (SPAC) TPG Pace Beneficial Finance (NYSE: TPGY) were soaring on Friday after the company announced that it will merge with electric-vehicle (EV) charging station company EVBox. As of 11:45 a.m. EST, the stock was up by about 104%.
EVBox owns Europe's largest EV charging station network, and a total of over 190,000 charging ports in more than 70 countries worldwide.