ChargePoint is merged. One reason for that is it seems almost certain there will be more stimulus. is serving as legal advisor to Switchback. Switchback Energy Acquisition Corporation (SBE) Shareholders Approve ChargePoint Deal, by Nicholas Alan Clayton. Switchback II traded for the first time on January 8, 2021, and raised $275 million at $10 a unit, consisting of a share of common stock and a fifth of a warrant, which is exercisable at $11.50. There are any number of clichés and idioms we can use to describe the link between electric vehicles and the infrastructure to power them. That decline probably shouldn't surprise investors. MDU: A Creative way to Invest in Energy, Construction, and Services. Sep 24, 2020 INTEL by Nicholas Alan Clayton Switchback Energy Acquisition Corp. (NYSE:SBE) announced this morning it has signed a definitive business combination agreement with electric vehicle (EV) charging station network ChargePoint, giving the company an implied enterprise value of $2.4 billion. As a refresher, Switchback and ChargePoint had entered into a definitive merger agreement on the 23rd of September. Switchback Energy … According to ChargePoint, it is the world’s first publicly traded global EV charging network. So is now a time to jump in on SBE stock? Right now, we’re just debating when and how many zeroes. and cryptocurrency investing advice and ideas. Electric vehicle charging station operator ChargePoint is the latest EV company that's headed for the public markets via the SPAC route, according to a Wednesday report. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Switchback. Feb 25, 2021 INTEL by Nicholas Alan Clayton. The deal has been among the most consistently appreciated EV SPAC combinations and has traded above $29 since late November. But by definition the need for stimulus means all is not well with the economy. The parties initially announced their $2.4 billion combination on September 24. But with ChargePoint’s focus on building out the EV infrastructure, it looks like SBE is betting on the right horse. You should not base investment decisions solely on this document. Principals, affiliates, staff or authors of Money Midnight may own positions in the securities listed on the site and that we reserve the right to buy or sell without notice at any time. When the merger is final, the new company will be known as ChargePoint Holdings. Enter your email address below to subscribe to our newsletter. Nothing herein should be considered personalized investment advice. The combined entity’s shares and warrants are set to begin trading on the NYSE under the ticker symbols “CHPT” and “CHPT WS,” respectively, beginning March 1. © 2021 SPACInsider | Theme by Theme Ansar. So what . Remember that this is for educational purposes only and since our research can be highly speculative, you should not base your decision solely on this document. Or it could halt demand for building an infrastructure. Oppenheimer & Co. Inc. is serving as capital markets advisor to ChargePoint. Switchback Energy SPAC Still Has Some Value Left SBE stock is worth $42.81, but could go much higher after its SPAC merger with ChargePoint closes By Mark R. Hake , … Money Midnight, our affiliates or the author may or may not have a position in the securities mentioned and reserves the right to buy or sell at any time without notice. The company was forecasting just $135 million in … The combined company is expected to … Financial Profiles, Inc. is serving as investor relations advisor for ChargePoint. That date was about a week … BofA Securities is serving as exclusive financial advisor to ChargePoint. The renamed ChargePoint Holdings was expected to trade on the New York Stock Exchange under the ticker CHPT on 1 March.. At the close of the transaction, ChargePoint had approximately US$615m in cash, which it … Image source: Getty Images. In this video, I cover: ChargePoint, Inc. Media Darryll Harrison Senior Director, Global Communications and Social Media 669-237-3380 Darryll.harrison@chargepoint.com media@chargepoint.com. The deal is worth $2.4 billion. OGI is Fit for Day Traders with a High Risk Appetite, OGI Should Be Avoided by Long Term Investors Organigram Holdings…, How Microsoft (MSFT) is able Establish Dominance in the Markets, Microsoft’s Growth Strategy In the past several years Microsoft has…, Tesla’s (TSLA) Future Sees Sparks like Electricity, Tesla’s All Electric Future Tesla (NASDAQ: TSLA) has announced plans…. ChargePoint, an electric vehicle charging network, has struck a … Weil, Gotshal & Manges LLP and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP are serving as legal advisors to ChargePoint. Home » Weekly IPO Updates » INTEL » Switchback Energy Acquisition Corporation (SBE) Shareholders Approve ChargePoint Deal. Spac company Switchback Energy Acquisition Corporation (NYSE:SBE.U) announced the tie-up on 26th February with electric vehicle charging network provider ChargePoint.. Switchback Energy (NYSE:SBE) announced that its shareholders approved its combination with electric vehicle (EV) charging network ChargePoint at a special meeting earlier today. That could put a crimp in the near-term growth forecast for EVs. But the merger of SBE with ChargePoint is one that I can get amped about (pun intended). Switchback Energy did not detail redemption figures in its initial press release, but they are bound to have been limited given the company opened trading this morning ahead of the vote at $34.34. Switchback Energy Acquisition Corp. (SBE) is a SPAC led by co-CEOs Scott McNeill and Jim Mutrie. The SPAC merger between Switchback Energy (SBE) and Chargepoint has been confirmed according to a recent filing with the SEC. The completion of the merger is expected on December 15, 2020. Campbell, California-based ChargePoint has over 115,000 charging stations and its users have access to an additional 133,000 “roaming” locations across North American and Europe. We’re looking for financial gurus & article writers to write about trending market news and investment ideas about the stock market. SBE stock is a SPAC, or a blank-check company, looking to take ChargePoint … Initially, on Sept. 23, 2020, Switchbank and ChargePoint agreed to merge. The parking spaces owned by ChargePoint’s site hosts are seamlessly integrated into one network available to the driver in a top-rated mobile app. | SWBK SPAC Stock | SPACs to BUY NOW!Switchback II (SWBK) is a new blank check company. ChargePoint is using the special purpose acquisition company (SPAC), Switchback Energy (SBE) for its IPO. The deal is now expected to close tomorrow, February 26. Which came first the chicken or the egg? The completion of the merger is expected on December 15, 2020. Switchback I was one of the most successful SPACs of 2020 after announcing a merger with ChargePoint—an electric vehicle charging network operator. In this case Switchback Energy Acquisition is merging with ChargePoint in a $2.4 billion deal. Switchback Energy (NYSE:SBE) announced that its shareholders approved its combination with electric vehicle (EV) charging network ChargePoint at a special meeting earlier today. NOK Stock: Nokia is a diamond in the rough. All content here is solely for informational and educational purposes only. Our main purpose is to bring traffic to our website. The majority of the metrics point to this investment being highly attractive. Maslow’s hammer, colloquially phrased as “if all you have is a hammer, everything looks like a nail,” comes to mind. The deal is now expected to close tomorrow, February 26. It is led by the team that is bringing us ChargePoint via SBE SPAC. You can trust the integrity of our balanced, independent financial research. ChargePoint SBE Stock Analysis vs Blink Charging | Switchback Energy SPAC vs Tesla Super Charger The Campbell-based electric vehicle charging network unicorn said the deal with Dallas-based Switchback Energy Acquisition Corp. values the combined companies at about $2.4 billion. As per the Form 424B3 filed by Switchback Energy Acquisition Corp. (NYSE:SBE) with the SEC, the shareholders of the SPAC were slated to approve the business combination with ChargePoint … There is a growing sentiment that 2021 is going to be a strong year for the economy no matter which candidate wins the White House. ChargePoint, one of the largest EV charging infrastructure providers in the U.S., has completed the business combination with Switchback Energy … Post was not sent - check your email addresses! The Switchback SPAC (special-purpose acquisition company), which offered 30 … Switchback Energy (NYSE:SBE) announced that its shareholders approved its combination with electric vehicle (EV) charging network ChargePoint at a special meeting earlier today. Or it could be a little of both. Acadia price falls 45% after the regulatory Update, SENS Stock: Senseonics is a game changer for glucose monitoring, Beware! Find out more about SWBK stock. U.S.-based electric vehicle charging network company ChargePoint’s shares began trading on the New York Stock Exchange on March 1, 2021, following the completion of its business combination with Switchback Energy Acquisition Corporation, a publicly-traded special-purpose acquisition company (SPAC).. And Switchback stock is down 13.5% as of 3 p.m. EST. Goldman Sachs & Co. LLC is serving as lead placement agent with BofA Securities and Oppenheimer & Co. Inc. serving as co-placement agents on the PIPE. ChargePoint, the world’s largest provider of electric-vehicle charging stations will go public with a reverse-merger agreement. Switchback II Corp - Next ChargePoint? Switchback Energy Acquisition Corp. (NYSE:SBE) tanked 14% after shareholders approved the SPAC's plan to buy electric-vehicle charging network ChargePoint at a $2.4 billion value. Vinson & Elkins L.L.P. The SPAC merger between Switchback Energy (SBE) and Chargepoint has been confirmed according to a recent filing with the SEC. Our daily stock market updates, stock market Money Midnight is currently seeking to expand our team of contributors. We use cookies to ensure that we give you the best experience on our website. No. The combined entity’s shares and warrants are set to begin trading on the NYSE under the ticker symbols “CHPT” and “CHPT WS,” respectively, […] The deal is now expected to close tomorrow, February 26. Sorry, your blog cannot share posts by email. In the case of the Switchback-ChargePoint merger, only those who owned the SPAC's shares on Dec. 16 can vote. Don’t put the cart before the horse. The combined company will take the name ChargePoint Holding and list on the NYSE. In this case Switchback Energy Acquisition is merging with ChargePoint in a $2.4 billion deal. I’ve been skeptical about many of the SPAC IPOs that have been announced this year. Now, an electric vehicle charging company is joining the growing list of SPACs. 1 source for smarter, safer, more profitable investing. When the merger with Switchback was initially announced, ChargePoint was clear that the COVID-19 pandemic would adversely impact revenue. Shares of Switchback Energy (SBE) appear to be a very good investment option, the Money Midnight Indicator is expecting its price to increase considerably in the next of years. You should note that our authors are not investment advisors. 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