EVBox Group to Become Public Company via Spac TPGY
EVBox Group to Become Public Company via Business Combination with TPG Pace Beneficial Finance
EVBox is a leading global provider of smart charging solutions for electric vehicles ("EV") with Europe’s largest installed base of charging solutions and the most advanced cloud-based software offering.
ENGIE to Retain 40+% Ownership
Institutional Investors Including Funds and Accounts Managed by BlackRock, Inclusive Capital Partners, Neuberger Berman Funds and Wellington Management to Invest Additional $225 Million of Equity Through Private Placement at Closing
EVBox Group to be Listed on the NYSE Following Close Expected Late Q1-2021
Following the transaction, EVBox expects to have more than $425 million of cash on its balance sheet, including a portion of the proceeds of TPG Pace’s fully committed Private Investment in Public Equity ("PIPE") of $225 million, $100 million from TPG Pace’s Forward Purchase Agreements and $350 million of cash held in TPG Pace’s trust account.
EVBox offers a portfolio of both hardware and enterprise software solutions and has built the industry’s largest installed base of EV charging solutions, with more than 190,000 charge ports across 70 countries.
The business combination values EVBox at an implied $969 million enterprise value , and a total pro-forma equity value of approximately $1.394 billion.
finance.yahoo.com/news/evbox-group-become-public-company-214500636.html
EVBox is a leading global provider of smart charging solutions for electric vehicles ("EV") with Europe’s largest installed base of charging solutions and the most advanced cloud-based software offering.
ENGIE to Retain 40+% Ownership
Institutional Investors Including Funds and Accounts Managed by BlackRock, Inclusive Capital Partners, Neuberger Berman Funds and Wellington Management to Invest Additional $225 Million of Equity Through Private Placement at Closing
EVBox Group to be Listed on the NYSE Following Close Expected Late Q1-2021
Following the transaction, EVBox expects to have more than $425 million of cash on its balance sheet, including a portion of the proceeds of TPG Pace’s fully committed Private Investment in Public Equity ("PIPE") of $225 million, $100 million from TPG Pace’s Forward Purchase Agreements and $350 million of cash held in TPG Pace’s trust account.
EVBox offers a portfolio of both hardware and enterprise software solutions and has built the industry’s largest installed base of EV charging solutions, with more than 190,000 charge ports across 70 countries.
The business combination values EVBox at an implied $969 million enterprise value , and a total pro-forma equity value of approximately $1.394 billion.
finance.yahoo.com/news/evbox-group-become-public-company-214500636.html
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