Exclusive: Electric vehicle charge network ChargePoint nears deal to go public – sources
By Joshua Franklin and Ben Klayman
(Reuters) – ChargePoint Inc, considered one of many world’s oldest and largest electrical vehicle charging networks, is nearing a deal to go public via a reverse merger with Switchback Energy Acquisition Corp, people conversant within the matter talked about on Wednesday.
The deal for ChargePoint would possibly well worth the company at higher than $2 billion and be launched as early as subsequent week, the sources talked about, cautioning that talks would possibly nonetheless collapse and phrases ought to change.
The sources requested anonymity as a result of the matter is private. ChargePoint declined to comment. Switchback did not immediately reply to requests for comment.
Switchback quickly rose 11% after the data and was halted. After shopping for and promoting resumed it was up 27.5% at $13.32. Trading amount was 8.4 events its 10-day shifting widespread.
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