Cigna has returned to invest $29.5m in electric vehicle charging technology developer Tritium ahead of its $1.2bn reverse merger later this year.
Cigna Investments, a subsidiary of healthcare insurance provider Cigna, has provided A$40m ($29.5m) for one of its portfolio companies, Tritium, an Australia-based electric vehicle charging technology developer, through a private placement.
In May, Tritium agreed to a $1.2bn reverse merger with special purpose acquisition company Decarbonization Plus Acquisition Corporation II (DCRN). That deal will enable Tritium to take up DCRN’s listing on the Nasdaq Capital Market.
Cigna had also contributed to a A$45m ($31.2m) private placement debt financing for…
