- Founded in 2010, Amsterdam-based EVBox is a producer of EV charging hardware and software systems, with a network of more than 190,000 charge ports in 70 countries.
- Formerly a unit of the French utility Engie, EVBox was taken public via a SPAC merger with TPG Pace in December 2020 at a post-merger valuation of $1.4 Billion.
- There have been concerns that this deal will fall through and shares have pulled back more than 60% from their February highs.
- TPG has a stellar track record of bringing private companies to public markets, with 5 successful SPAC IPOs and 55 total IPOs over the last 10 years.
- I would avoid adding to one's position until further clarity is available regarding the announced SPAC merger.
For further details see:
EVBox: Merger Concerns Are Substantial But So Is The Upside