Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Read full article. ChargePoint, one of the oldest and largest electric vehicle charging networks, is going public by merging with SPAC Switchback Energy Acquisition (NYSE:SBE) in a … At the time, ChargePoint maintained 57,000 charging spots. ChargePoint, one of the first and largest electric-vehicle recharging networks, said on Thursday that it will go public via a merger with special … Now, it says someone plugs into the network every two seconds. The €2.06B deal is expected to close near the end of the year. The three primary approaches are: (1) pay-as-you-go, (2) monthly subscriptions, and (3) free. ChargePoint electric vehicle (EV) charging stations are designed using cutting-edge hardware technology to be safe and reliable, while offering drivers a user-friendly, premium charging experience. Copyright © 2021 InvestorPlace Media, LLC. The ChargePoint deal includes a $225 million PIPE, with investments from institutional investors including Baillie Gifford and funds managed by Neuberger Berman. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. Electric car stocks are hot now, and the novel coronavirus is likely to make them even hotter. Otonomo, the cloud-based software startup that help companies capture and monetize connected car data, is headed to the public market. 2021 InvestorPlace Media, LLC. The Israeli … The deal would value Campbell, California-based ChargePoint at more than $2 billion. A recent funding round saw it come in just below $1.4 billion. According to … America’s #1 Stock Picker Reveals His Biggest Recommendation of 2021... On Feb. 23, Luke Lango will reveal his #1 tech pick of the year… details on the hyperscale opportunities on the cusp of changing the world… and how YOU can get in on the action. For ChargePoint, a reverse merger is an attractive opportunity to go public and a good strategic option. ChargePoint is revving up to come public. ChargePoint has attracted funding from both private venture investors and large strategic investors, including German automakers Daimler AG and BMW and the venture arm of … Sarah Smith is a Web Content Producer for InvestorPlace.com. All rights reserved. 1125 N. Charles St, Baltimore, MD 21201. The 7 Best Vanguard Index Funds to Buy Now for Pent Up Demand, 8 Electric Vehicle Stocks With Long-Term Stories. PIPE investors agree in advance to invest a set amount in exchange for stock at a set price, typically discounted. Article printed from InvestorPlace Media, https://investorplace.com/2020/09/chargepoint-spac-merger-ev-charging-company-to-go-public-via-sbe-spac/. ChargePoint, one of the first and largest electric-vehicle recharging networks, said on Thursday that it will go public via a merger with special-purpose acquisition company Switchback Energy Acquisition (NYSE:SBE). Hundreds of thousands of places to charge One account to access them 1125 N. Charles St, Baltimore, MD 21201. Importantly, it provides a variety of charging stations as well as a platform to help optimize EV charging. McNeill said that with the total addressable market for electric-vehicle charging set to grow dramatically, ChargePoint is a compelling merger target. It should be clear where the interest in this deal is coming from. ChargePoint, with its leading position in the U.S. and a growing presence in Europe, seems like a no-brainer to grow nicely along with EV adoption over the next several years. So what about the ChargePoint SPAC merger? On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. Reuters sources say electric vehicle charging network ChargePoint is closing in on a deal to go public via reverse merger with Switchback Energy Acquisition (NYSE:SBE). ChargePoint President and CEO Pasquale Romano, and the existing leadership team, will lead the combined company. Electric vehicle charging network ChargePoint officially announced Thursday that it will go public through a reverse merger with Switchback Energy Acquisition Corp (NYSE: SBE). Reuters reported last week that the two companies were considering a merger. Sep 24th 2020 at 9:48AM 0 Comments DETROIT — ChargePoint Inc, one of the world's oldest and largest electric vehicle charging networks, said on Thursday it will go public … Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Going forward, the … BMW first supplied funds in 2012, according to Crunchbase data. BRITAIN will give away millions of doses of surplus coronavirus vaccine to poor countries, the government will reveal today. ChargePoint is revving up to come public. ChargePoint helps investors embrace exactly that. Switchback itself came public just over a year ago in an initial public offering that raised $300 million. Keep a close eye on this deal. Join the EV revolution for a greener tomorrow. It expects to use the proceeds of this deal to expand in North America and Europe, and aims to be profitable by 2023. ChargePoint Not Going Public Just Yet as the SPAC Switchback Energy Acquisition Corp. (NYSE: SBE) Postpones the Merger Vote By Rohail Saleem Feb 11, 2021 11:30 EST Switchback Energy is led by veteran energy investors including CEO Scott McNeill, a former executive of oil and gas company RSP Permian. Electric vehicle charging network company ChargePoint to go public via SPAC. The most important thing to note here is that the deal is not final. The company is the latest to join a long line of startups choosing to go public via SPACs. Last week, we reported that 2020 seems to be the “year of the SPAC.” Nasdaq Market data powered by FactSet and Web Financial Group. We’re motley! ChargePoint, one of the oldest and largest charging networks, has about 115,000 electric-vehicle chargers in service now. According to Reuters, the company has received support from Chevron (NYSE:CVX), BMW (OTCMKTS:BMWYY) and Daimler (OTCMKTS:DDAIF). The proposed deal values ChargePoint at $2.4 billion and is expected to close by the end of 2020. ChargePoint to go public in $2.4bn reverse merger VentureBeat 196d ChargePoint raises $127 million to bring EV charging to more fleets Reuters … According to those […] Image source: Maria Hedrick via ChargePoint. As in the deal that took electric-truck start-up Nikola public in June, the ChargePoint deal includes a so-called PIPE: "public investment in private equity.". ChargePoint has attracted funding from both private venture investors and large strategic investors, including German automakers Daimler and BMW and … If given the opportunity, it makes sense to grab a free charge, even for a relatively short period of time. "Following" : "Follow"}} December 04, … The company has about 115,000 charging points around the world, a total it expects to raise to about 2.5 million by 2025, and counts BMW, Daimler, Siemens, and Chevron among its investors. According to anonymous sources, the electric vehicle charging company is closing in on a reverse merger with Switchback Energy Acquisition (NYSE:SBE). Binance Coin (BNB) Price Predictions: Where Will BNB Go After All-Time High? ChargePoint, the world’s largest network of electric vehicle (EV) charging stations, is preparing for a reverse merger deal to go public. Subscribe to the Crunchbase Daily Source: David Tonelson / Shutterstock.com, ChargePoint SPAC Merger: EV Charging Company to Go Public Via SBE SPAC, give ChargePoint a value above $2 billion, Louis Navellier and the InvestorPlace Research Staff, This Tesla Stock Dip Is a Gift Just Waiting to Be Bought, The Technology — and Opportunity — to Solve Power Outages. "The EV charging industry is accelerating and it is expected that charging infrastructure investment will be $190 billion by 2030," McNeill said in a statement. "As a first mover in the space, ChargePoint has distinguished itself as the number one EV charging network and is well positioned to deliver mission-critical charging infrastructure as the expected transition to electric mobility accelerates.". According to internal sources, the deal could value the company at over $2 billion. ChargePoint, the world’s largest network of electric vehicle (EV) charging stations, is preparing for a reverse merger deal to go public. Add in the fact that long-term trends suggest consumers are more likely than ever to drive a green car, and ChargePoint should start to get even more business. Churchill Capital IV: A Sweetheart Deal in the Making? ChargePoint’s offerings have attracted a growing customer base of more than 4,000 organizations and businesses, building a network of more than 115,000 public … ChargePoint generated $147 million in revenue in 2019. The company is likely eyeing ChargePoint because of its prominence in the electric vehicle space, the broader trend toward electric cars and the fact ChargePoint has institutional backing. Chris Katje. Clean Energy, Energy Storage Company STEM To Go Public Via SPAC Chris Katje, Benzinga Staff Writer {{following ? Here is what you need to know about the red-hot ChargePoint SPAC merger. Pasquale Romano, ChargePoint's current CEO, will lead the combined company. By Sarah Smith, InvestorPlace Web Content Producer Sep 18, 2020, 10:27 am EST. ChargePoint’s offerings have attracted a growing customer base of more than 4,000 organizations and businesses, building a network of more than 115,000 public and private places to charge. September 18, 2020. As we lead the world in terms of vaccine rollout and with many countries… California-based ChargePoint has long been expanding the charging infrastructure for electric cars. Petco also disclosed outstanding total debt of $3.3 billion, with proceeds from the sale of shares expected to go toward interest payments on loans. The deal follows the broad pattern of other recent deals involving electric-vehicle start-ups and special purpose acquisition companies, or SPACs, that have drawn intense interest from auto investors in 2020. Such a deal could give ChargePoint a value above $2 billion. Kirsten Korosec. However, investors are confident we should hear an update on ChargePoint and blank-check company Switchback Energy Acquisition as early as next week. In addition, ChargePoint offers access to an additional 133,000 public places to charge through network roaming integrations across North America and Europe. First of all, what exactly is ChargePoint? ChargePoint to go public in $2.4bn reverse merger World’s largest electric car charging network latest to list using special purpose acquisition company A ChargePoint charging location. In 2019, VW's Electrify America and ChargePoint agreed to provide common access to their US customers. Copyright © ChargePoint is planning to go public through a SPAC merger in early 2021. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Electric-vehicle-recharging network ChargePoint will go public via a $2.4 billion merger with a blank-check company, Switchback Energy. ChargePoint plans to go public next month in a reverse merger with Dallas-based Switchback Energy Acquisition Corp. (NYSE:SBE) in a deal that values the combined companies at … The merged company, to be called ChargePoint Holdings, will realize about $493 million in net proceeds from the deal, and will have a total of $683 million in cash. 7 Overvalued Stocks Investors Just Don’t Get Tired Of. ChargePoint, the world's largest provider of electric-vehicle charging stations, said on Thursday it will go public with a reverse-merger agreement worth $2.4 billion. quotes delayed at least 15 minutes, all others at least 20 minutes. … As investors have chased up the actual automakers, many have started to see more value in the so-called picks and shovels. Chargepoint CEO on going public in $2.4 billion reverse merger: 'It was good timing for us' Chargepoint, one of the oldest and largest electric vehicle charing networks, announced it will go public … We rigorously test all our products to CEO Pasquale Romano joins 'Squawk on the Street' to discuss. ChargePoint, founded in 2007, has become a dominant player in the emerging electric-vehicle-recharging industry. We have seen electric vehicle companies come public in record numbers this summer — including Nikola (NASDAQ:NKLA), Li Auto (NYSE:LI) and Xpeng (NYSE:XPEV). Chargepoint CEO on going public in $2.4 billion reverse merger: 'It was good timing for us' Chargepoint, one of the oldest and largest electric vehicle charing networks, announced it will go public … Returns as of 02/20/2021. Clover will go public via a merger with Social Capital Hedosophia Holdings Corp. III, a special purpose acquisition company. Several electric vehicle startups, including … John Rosevear is the senior auto specialist for Fool.com. And if you need more convincing data, check this out. ChargePoint To Go Public In Another Signal Of Surge In EV Popularity ChargePoint will become a public offering by the end of 2020. To answer that, it is important to understand that ChargePoint sees itself as the backbone of the electric vehicle industry. ChargePoint Inc. said on Wednesday that it raised $240 million in new funding, which CEO Pasquale Romano says may be the last venture round his 11-year-old company needs before going public… Chargepoint, one of the oldest and largest electric vehicle charing networks, announced it will go public through a SPAC merger. Stock Advisor launched in February of 2002. ChargePoint is the world's largest network of electric vehicle (EV) charging stations in North America and Europe. ChargePoint expects its revenues to sustain a compound annual growth rate (CAGR) of 60% between 2021 and 2026. ChargePoint is revving up to come public. Company reached 100,000 chargers in September 2019, while adding more than 2,000 charging locations per month . An increasing consumer shift toward sustainability and the environment could bring big bucks to the ChargePoint SPAC merger. All rights reserved. ChargePoint, the world's largest provider of electric-vehicle charging stations, said on Thursday it will go public with a reverse-merger agreement worth $2.4 billion. Although Roblox initially planned to go public last year in an IPO, the company delayed that move after massive opening day jumps in stocks such as … ChargePoint, one of the oldest and largest electric vehicle charging networks, is going public by merging with SPAC Switchback Energy Acquisition (NYSE:SBE) in a … With a charging network across North America, it and its rivals are key to boosting consumer adoption of electric vehicles. EV charging network ChargePoint to go public via SPAC. ChargePoint, an electric vehicle charging network, has struck a deal to merge with special-purpose acquisition company […] EV charging network ChargePoint to go public … This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. 8:50 AM PDT • September 24, 2020. The deal values Clover at … EV Charging Company ChargePoint Going Public Via SPAC: Report. “We will probably look to be public within the next five years,” Pasquale Romano … If you want to swap out your clunker for an eco-friendly EV, you need somewhere to charge its battery. That is exactly where ChargePoint comes in. Cumulative Growth of a $10,000 Investment in Stock Advisor, EV Charging Network ChargePoint to Go Public in $2.4 Billion Deal @themotleyfool #stocks $SBE $CVX $SIEGY $BMWYY $DMLR.Y $NKLA, Why Switchback Energy Acquisition Stock Jumped Today, Why Switchback Energy Shares Gained 10% Today, Why Shares of Switchback Energy and 2 Other EV Stocks Are Down Today, Why Switchback Energy Stock Is Charging Higher Today, Why Lordstown Motors, Switchback Energy, and Workhorse Group Stocks Are Higher Today, Copyright, Trademark and Patent Information. Electric vehicle charging station operator ChargePoint is the latest EV company that's headed for the public markets via the SPAC route, according to … According to anonymous sources, the electric vehicle charging company is closing in on a reverse merger with … But the pay models, depending on the cost for a charge, need to be studied to determine which network makes the most sense for you—if it’s best to collect a wallet-full of membership cards or if proper planning will allow you to avoid public charg… Since its founding in 2007, the company has rapidly grown.

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