The Gilbarco Veeder-Root, Varley Group and Cigna-backed electric vehicle charging technology developer will list through a $1.2bn reverse merger deal.
Tritium, an Australia-based vehicle charging technology developer backed by corporates Gilbarco Veeder-Root, Varley Group and Cigna, has agreed a reverse merger with special purpose acquisition company Decarbonization Plus Acquisition Corporation II (DCRN).
The combined company will retain Tritium’s brand and will take up the Nasdaq Capital Market listing DCRN secured through a $350m initial public offering in January this year. It will receive approximately $403m in gross proceeds through the transaction, which valued Tritium at $1.2bn pre-merger.
Founded in 2001,…
