AEP, BMW, Chevron, Constellation Energy, Daimler, Siemens, The Hartford and Toyota are all in line for exits as ChargePoint goes public through a reverse merger at a $2.4bn valuation.
ChargePoint, the US-based operator of an electric vehicle (EV) charging network backed by a long list of corporates, yesterday agreed to a reverse merger with Switchback Energy Acquisition that will value the company at $2.4bn.
The deal includes a $225m private investment in public equity (Pipe) co-led by Baillie Gifford and funds managed by Neuberger Berman Alternatives Advisors. The Pipe transaction will consist of shares priced at $10.
Switchback’s sponsor and certain stockholders agreed that a portion of their equity…
