Results in over $600 million of gross cash proceeds to Stem
Stem’s common stock to begin trading on the NYSE under symbol “STEM” on April 29, 2021
MILLBRAE, Calif., April 28, 2021 (GLOBE NEWSWIRE) Stem, Inc., a global leader in artificial intelligence (AI)-driven clean energy storage services, announced today that it has completed its previously announced business combination with Star Peak Energy Transition Corp. (“Star Peak”).
The transaction was unanimously approved by Star Peak’s Board of Directors and was approved at a special meeting of Star Peak stockholders on April 27, 2021. In connection with the closing, Star Peak changed its name to Stem, Inc. (“Stem” or the “Company”). The ticker symbols for the common stock and warrants of Stem will change from “STPK” and “STPK.WS” to “STEM” and “STEM.WS” and will begin trading as such on the New York Stock Exchange on April 29, 2021.
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MILLBRAE, Calif., April 14, 2021 (GLOBE NEWSWIRE) Stem, Inc. ( Stem or the Company ), a global leader in artificial intelligence (AI)-driven clean energy storage services, today announced it has completed six months of successful operation of the 345MWh energy storage portfolio owned by Electrodes Holdings LLC ( Electrodes ) which last year transferred portfolio control to Stem s Athena™ smart energy software. Customers in the 86-site portfolio are now realizing more than 30% greater monthly energy savings on average compared to the previous software provider.
Within two months of being awarded the exclusive contract by Electrodes, Stem seamlessly onboarded to Athena management this portfolio that serves 25 large commercial and municipal customers in the Los Angeles area. The customers at these sites – ranging from office buildings, water treatment plants, university campuses, local government buildings, food processing plants, medical facilities, and retail supers
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Star Peak Energy Transition Corp. (STPK) shares were falling -8.73% to trade at $27.49 in the current market at the last check. STPK’s stock closed the previous session at $30.12. The STPK stock volume remained 1.3 million shares.
What is the recent news on STPK stock?
On 12
th April 2021, STPK and Stem Inc. announced that they will host a fireside chat on that same day with IPO Edge at 2 pm EDT. The event will be broadcasted live and has also been announced by IPO Edge on their website. The event will feature the Chairman of STPK stock, Michael Morgan, and CEO of Stem, John Carrington. The moderator chosen for the event will be Editor-in-Chief of IPO Edge John Jannarone. The event’s agenda is to discuss merger/business combination and the session will last for 45 minutes along with a Q&A session with the audience