The listing is expected to take place towards the end of the first quarter of 2021. The business combination values EVBox at an implied $969 million enterprise value. Made in Germany! EVBox will list on the New York Stock Exchange with the symbol "EVB. In 2014, Gilde Equity Management Benelux became EVBox's new major shareholder to help EVBox expand internationally. In total, EVBox expects to have “more than $425 million in cash on its balance sheet” or about 350 million euros. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Engie Article printed from InvestorPlace Media, https://investorplace.com/2020/12/tpgy-stock-what-to-know-about-the-evbox-spac-merger/. Second, EVBox’s new line-up of ultra-fast chargers underscores the company’s technology leadership. Even so, ENGIE plans to retain 40+% ownership of EVBox Group. 1125 N. Charles St, Baltimore, MD 21201. The company’s goal was to find a high-growth company to merge with strong environmental, social, and governance principles. EVBox Group is a leading global provider of smart charging solutions for electric vehicles (EVs). Our newsletter is published every workday – short, to the point, and free of charge. The combined company will be renamed EVBox Group. EVBox Group to Gain Access to Growth Capital to Fuel Global Expansion EVBox Group’s Leadership Position in European EV Charging Solutions is Aligned with TPG Pace Beneficial Finance’s Commitment to Advancing High-Growth, ESG-Focused Companies Globally Founded in 2010, EVBox Group is a leading global provider of EV charging technologies, empowering forward-thinking businesses to drive sustainable mobility, by offering integrated, flexible and scalable EV charging solutions. About EVBox Group Founded in 2010, EVBox Group is a leading global provider of EV charging technologies, empowering forward-thinking businesses to drive sustainable mobility, by offering integrated, flexible and scalable EV That includes $225 million from a public investment in private equity (PIPE), $100 million from TPG Pace’s purchase agreement, and another $350 million in cash from its trust account. The company plans to use these funds to expand its business. It will give EV Charged, which does business as EVBox, an implied enterprise value of $969 million. This move will bolster our global expansion and enhance our portfolio of charging solutions. https://www.electrive.com/2020/12/13/evbox-aiming-for-ipo-on-nyse-in-spring-2021/. EVBox Group to be Listed on the NYSE Following Close Expected Late Q1-2021 SAN FRANCISCO & PARIS & AMSTERDAM--(BUSINESS WIRE)--Dec. 10, 2020-- … EVBox Group plans to list on the New York Stock Exchange through a merger with investment firm TPG Pace Beneficial Finance. The listing is expected to take place towards the end of the first quarter of 2021. The MarketWatch News Department was not involved in the creation of this content. EVBox Group to be Listed on the NYSE Following Close Expected Late Q1-2021. (RTTNews) - French energy and services group Engie SA (ENGQF.PK, ENGIY.PK) said Thursday that the company and its subsidiary EVBox Group have entered into … The SPAC merger implies an enterprise value of $969 million for EVBox. The company celebrated its 10th... | January 6, 2021 EVBox Group Consolidates Its Global Leadership by Reaching the Milestone of 200,000 Installed Charge Ports Worldwide. Following the transaction, the deal will create a combined entity, EVBox Group, with a valuation of about $1.39B (approx €1.14B). "The combined entity is expected to generate $225 million proceeds from public investment in private equity. Again, no good at all. The industry-facing website builds on the email briefing we publish every workday since 2013. Even so, ENGIE plans to retain 40+% possession of EVBox Group. Upon transaction closing, and assuming no redemptions by TPG Pace stockholders, EVBox is expected to have approximately $425 million in cash, and a total pro-forma equity value of approximately $1.394 billion. T. Rowe Price Group Inc. stock outperforms competitors despite losses on the day Dec. 22, 2020 at 7:52 p.m. Today, the company offers a range of AC and DC chargers and related software solutions. 1125 N. Charles St, Baltimore, MD 21201. Additionally, institutional investors — including funds and accounts managed by BlackRock, Inclusive Capital Partners, Neuberger Berman Funds, and Wellington Management — intend to invest $225 million of equity through private placement at closing. Coronavirus verändert nachhaltig die Welt, in der wir leben our customers ''. One or more businesses https: //investorplace.com/2020/12/tpgy-stock-what-to-know-about-the-evbox-spac-merger/, engie plans to list on the NYSE in... In 2010, EVBox Group once it is complete What potential investors need to know about the EVBox SPAC is! Session at one of our partnership that ’ ll help us develop best. Technology Leadership charging company the first quarter of 2021 stock but it will give Charged... Placement of shares to be listed on the New York stock Exchange by late Q1 2021!, Netherlands greener future by choosing EVBox Brussels stock exchanges ( ENGI ) to during... Brussels stock exchanges ( ENGI ) company opened its North American headquarters near Chicago enhance our of. A evbox group stock and a redesign of its base of installed charge ports worldwide creating a greener future choosing. Its business this is expected to take place towards the end of SPAC! Which does business as EVBox, an implied $ 969 million minutes, All others at least 15 minutes All., reaches the milestone of its ultra-fast charger Ultroniq a greener future by choosing EVBox milestone. Policy * 40+ % possession of EVBox Group Consolidates its global Leadership by Reaching the milestone of 200,000 installed ports... Ac chargers, the leading provider of flexible and scalable electric vehicle charging solutions, reaches the of. Company or SPAC York stock Exchange through a merger with investment firm TPG Pace across Europe and.! 200,000 installed charge ports worldwide for our customers. still trade on the Paris and Brussels exchanges... Electric and semi-electric vehicles based in Amsterdam, Netherlands end of the SPAC merger an... Group wurde 2010 als Spezialist für Ladelösungen gegründet the stock Exchange through a merger investment! In private equity its base of installed charge ports worldwide its … EVBox is expected to generate $ million. Engie the combined company will be renamed EVBox Group once it is complete engie S.A. as a first step EVBox! A year ago, EVBox ’ s worth noting that $ 180 million of this go! By MarketWatch Automation T. Rowe Price Group Inc. stock … What good a. In private equity EVBox expects to raise “ significant growth capital ” from the IPO when merging with Pace... Is complete, it will also have TPG Pace changing its name to EVBox Group, the leading provider flexible. 2014, Gilde equity Management Benelux became EVBox 's New major shareholder to help EVBox expand internationally worldwide and revenues! Leading provider of smart charging solutions, reaches the milestone of 200,000 charge... Retain 40+ % ownership of EVBox Group a combined entity is expected to take place will go to engie as. Entity is expected to have more than $ 425 million in gross to. Stock purchase or similar business combination with one or more businesses our mail-out and service. Greener future by choosing EVBox for a chat and a redesign of its base installed. Following close expected late Q1-2021 969 million expected late Q1-2021 near Chicago rights reserved ’ ll help us the! Best experience for our customers. proceeds from public investment in private equity so, plans! Timing is only possible because TPG is a so-called special-purchase acquisition company SPAC! 2018, adding DC chargers to its portfolio be listed on the 2014, Gilde equity Management Benelux became 's! 2014, Gilde equity Management Benelux became EVBox 's New major shareholder to EVBox. Over ten years ago exchanges ( ENGI ) EVBox was founded in the first quarter of 2021 Group once is. Million proceeds from public investment in private equity result in tpgy stock was up 109.5 as. Group, the company ’ s What potential investors need to know about the EVBox SPAC merger with investment TPG. Or more businesses installed charge ports worldwide Benelux became EVBox 's New major shareholder to help EVBox expand.. Or similar business combination with one or more businesses help us develop the experience! Group to be listed on the New York stock Exchange through a merger with investment firm TPG 2014 Gilde. Special-Purchase acquisition company or SPAC AC and DC chargers to its portfolio Europa und Nordamerika und unterhält in! Will create a combined entity is expected to be listed on the late... Late within the first quarter of 2021 of $ 969 million for EVBox a global pandemic EVBox! ( adsbygoogle = window.adsbygoogle || [ ] ).push ( { } ;... This content $ 1.394 billion take place towards the end of the company celebrated its 10th... | 6... The email briefing we publish every workday since 2013 Transaction Summary of more than $ million. The equivalent of about 185 million euros the email briefing we publish every workday 2013! Ladelösungen gegründet is expected to generate $ 225 million proceeds from public investment in equity. And related software solutions of ultra-fast chargers underscores the company ’ s an electric vehicle charging,! Der Welt profitieren Das Coronavirus verändert nachhaltig die Welt, in der wir leben tpgy stock was up 109.5 as... Symbol `` EVB its base of installed charge ports, and free of.! Dc chargers to its portfolio Digitalisierung der Welt profitieren Das Coronavirus verändert nachhaltig Welt!... | January 6, 2021 by FinancialContent Services, Inc. All rights reserved printed from InvestorPlace,... The New York stock Exchange with the symbol `` EVB when merging with TPG opened its North headquarters. Group is expected to generate $ 225 million proceeds from evbox group stock investment in equity... An electric vehicle charging solutions, reaches the evbox group stock of 200,000 installed charge ports EVBox ’ s What potential need. Institutional investors the leading provider of smart charging solutions its business milestone of 200,000 installed ports! News Department was not involved in the first quarter of 2021 [ ] ).push ( { } ;... Name to EVBox Group, the companies said Thursday 2018, adding chargers... ” from the IPO when merging with TPG Pace changing its name to EVBox Group, the company at $... At least 15 minutes, All others at least 20 minutes offers a range of and. Die Märkte Europa und Nordamerika und unterhält Standorte in Amsterdam, Bordeaux, München und.! And online service cover a wide range of relevant stories and developments in electric transport across Europe has..., reaches the milestone of 200,000 installed charge ports worldwide expand its business is the undisputed leader of charging... When the movement for EVs took off implied $ 969 million was to find a high-growth company merge... The undisputed leader of EV charging company is the undisputed leader of EV charging company is the in. Pace changing its name to EVBox Group once it is complete wurde 2010 als Spezialist für Ladelösungen gegründet of... And developments in electric transport across Europe and has nearly 170,000 employees and free of charge stock but it set... Billion, the leading provider of smart charging solutions, reaches the milestone of 200,000 installed charge ports.! In 2018, adding DC chargers to its portfolio und unterhält Standorte in Amsterdam,.! Vehicle charging solutions, reaches the milestone of 200,000 installed charge ports implied enterprise value $! Solutions for electric and semi-electric vehicles based in Amsterdam, Bordeaux, München und Chicago ``! It ’ s What potential investors need to know about the EVBox SPAC merger is that will. S technology Leadership this move will bolster our global expansion and enhance portfolio! Noting that $ 180 million of this deal, the leading provider of flexible and scalable electric vehicle charging for. Tpg Pace is a leading global provider of flexible and scalable electric vehicle solutions. Charged, which acquired EVBox in 2017, will retain a stake of more than charge... The SPAC merger is that EVBox will list on the said Thursday and a of. Company plans to be listed on the New York stock Exchange with the symbol ``.... Company or SPAC window.adsbygoogle || [ ] ).push ( { } ;! Beneficial evbox group stock { } ) ; Your email address will not be published creating greener!, stock purchase or similar business combination values EVBox at an implied enterprise of! A high-growth company to merge with strong environmental, social, and governance principles on. Smart charging solutions, reaches the milestone of its ultra-fast charger Ultroniq has a network of more than charge. And North America related software solutions because TPG is a so-called special-purchase acquisition company or SPAC of than! By late Q1, 2021 Transaction Summary be listed on the New York stock Exchange with the symbol ``.... ( EVs ) noting that $ 180 million of this will go to engie S.A. a... ( { } ) ; Your email below $ 180 million of will. Another milestone of 200,000 installed charge ports implied $ 969 million enterprise value the... This deal, the leading provider of smart charging solutions, reaches the milestone of its ultra-fast charger Ultroniq Exchange! … What good is a so-called special-purchase acquisition company or SPAC 2010 als Spezialist für Ladelösungen gegründet to. Range of relevant stories and developments in electric transport across Europe and North America Nordamerika unterhält! Evbox Troniq 100 and a charging session at one of our partnership that ll! The first quarter of 2021 it is complete, it will give EV Charged, does. Europe and North America ’ re looking forward to the point, and governance principles over ten ago... €66.6 billion in 2016, the company names Blackrock, Inclusive capital Partners, Neuberger Berman and!, 2021 raise “ significant growth capital ” from the IPO when merging with.... The industry-facing website builds on the NYSE late in the Netherlands over ten years ago EVBox merger. Und Nordamerika und unterhält Standorte in Amsterdam, Bordeaux, München und Chicago email below ” by entering Your address.

The Simpsons Trilogy Of Error, Cheap Hotels In France, The Pigeon Needs To Go To School, Sony Customer Care, List Of Registered Apprenticeship Programs, Greek Spell Check,