Proterra, builder of electric buses, heavy-duty vehicle drivetrains, batteries and charging systems, plans to go public on the Nasdaq exchange via a merger with a special-purpose acquisition company (SPAC), the latest in a string of EV companies seeking access to public market financing to meet growing demand.
Tuesday’s announcement sets the Burlingame, Calif.-based company on a course to merge with ArcLight Clean Transition Corp., with $415 million in private investment in public equity commitments led by Daimler Trucks, as well as Franklin Templeton, Chamath Palihapitiya, Fidelity Management & Research, and funds and accounts managed by private equity firm BlackRock.
The transaction is expected to raise $825 million in cash and set an enterprise value of $1.6 billion for Proterra, which will trade under the ticker symbol PTRA. The company has raised about $682 million from investors including Kleiner Perkins, Daimler, Generation Investment Management, Tao Capital Par
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Zomato closes $660 million funding round at post-money valuation of $3.9 billion: CEO
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Last Updated: Dec 19, 2020, 08:49 AM IST
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Zomato is also in the process of executing a $140 million secondary transaction, about $30 million of which has already been distributed among former employees, providing them with liquidity.
Zomato closed a $660 million primary financing round at a post-money valuation of $3.9 billion, the platform’s cofounder Deepinder Goyal announced on Friday.
“10 new investors are joining us in our journey. This list includes Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae, and Steadview,” he said in a series of tweets.
Food delivery in India is rapidly coming out of COVID-19 shadows. December 2020 is expected to be the highest ever… https://t.co/ynABnldD77 Deepinder Goyal (@deepigoyal) 1608304207000
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