Transaction Represents Enterprise Value of $1.6 Billion for Proterra; New ticker upon merger NASDAQ: PTRA; Strong Financial Foundation. That includes $278 million held in trust at ArcLight and another $415 million from a private investment in public equity (PIPE). As the Seeking Alpha contributor lays out, Proterra has continued to improve its production capabilities and expand its … Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the … Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp. Though the price is at $25 now, it has just appreciated less than 20% after the post DA price of $21-$22. Invest in proven Automotive companies like Proterra at SharesPost.com. Will I be able to buy Proterra … Whether you want to play the merger hype or long on the company, not much better time to jump into ACTC and be a future stock owner of Proterra (PTRA)! EV companies are coming public via SPACs at a rapid pace. Proterra makes battery and electrification systems for commercial vehicle manufacturers and has produced more than 550 heavy-duty electric transit buses with more than 16 million miles traveled. Since the merger with Proterra has already been announced and should close within a few months, the warrants won't become exercisable until late … Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the last three years. US-based electric bus manufacturer Proterra is weighing a stock market flotation through a merger with a blank check company, people familiar with the matter told Reuters. No. Even though ACTC stock … 1-Daimler partnership & Investor. Diversified Provider of EV Technologies . Upon completion of the transaction, Proterra expects to have up to $825 million in cash to fund growth initiatives, including R&D and the expansion of its next-generation battery program. The company was founded in 2020 and is based in Boston, Massachusetts. Shares closed January 19 up 10.3% at $29.11. Its common stock is expected to trade on the NASDAQ under the ticker symbol PTRA. The post QELL Stock: Qell Shares Climb on Proterra SPAC Merger Rumors appea... 3 months ago - InvestorPlace. 2-Current revenue generating business unlike most other spacs. According to sources, the company, which was last valued at USD 1.10 billion in 2019, is abandoning the traditional initial public offering (IPO) route it had originally explored last year. ArcLight Clean Transition Corp. (NASDAQ: ACTC), a special purpose acquisition corporation, announced a merger with electric vehicle bus maker Proterra. SPAC: ArcLight (NASDAQ: ACTC) Private Company: Proterra. Yes, there is even more electric vehicle SPAC news from this week. 8: Proterra SPAC Merger News. As the Seeking Alpha contributor lays out, Proterra has continued to improve its production capabilities and expand its … QELL Stock and a Proterra SPAC Merger. How to buy shares in Proterra when it goes public On January 11, 2021, Proterra entered into a merger agreement with ArcLight Clean Transition Corp. (Nasdaq: ACTCU, ACTC and ACTW), a special purpose acquisition company. It intends to engage in the business of advanced electric vehicle technology solutions. A dds details on the deal, background. Other … The proposed reverse merger with ArcLight gives Proterra an enterprise value of $1.6 billion. Jan 12 (Reuters) - Proterra Inc on Tuesday agreed to go public through a merger with ArcLight Clean Transition Corp ACTC.O, in a … Upon closing, Proterra’s common stock is expected to trade on the Nasdaq under the ticker symbol PTRA. ImpactAlpha, Jan. 13 – Burlingame, Calif. electric bus maker Proterra announced a merger with ArcLight Clean Transition Corp., a publicly traded special purpose acquisition company.The transaction values Proterra at $1.6 billion and includes an additional $415 million from Daimler Trucks, Franklin Templeton, Chamath Palihapitiya and others. Developed in collaboration with Power Electronics, the new Proterra electric vehicle charging systems are reliable, compact, and cost-effective. Shares closed January 19 up 10.3% at $29.11. Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the last three years. ArcLight (NASDAQ:) stock is soaring higher on Tuesday following news that the special purpose acquisition company (SPAC) plans to take Proterra public via a merger.. ArcLight Clean Transition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp. Investors learned that Proterra, the maker of all-electric buses, is coming public via ArcLight. However, there could be an under-appreciated opportunity in commercial electric vehicles, such as the buses made by Proterra. The merger will bring $825 million in cash and will value the company at $1.6 billion. It would put Proterra’s valuation at $1.6 billion with over $800 million in the bank to finance their growth. Proterra in January announced a merger with ArcLight Clean Transition Corp in a deal valued at $1.6 billion. ... www.proterra.com | Automotive | Founded: 2004 | Funding to Date: $608,195,380 Proterra is an American designer and manufacturer of electric buses and charging systems founded by Dale Hill in 2004. The transaction represents an enterprise value of $1.6 billion for Proterra. Proterra’s newest line of electric vehicle chargers provides a comprehensive set of products to scale EV fleets. ACTC (Proterra) - Montgomery County, Maryland in 16 year, $169 mm school bus lease program for 326 buses to be built by Thomas Built and powered by Proterra. The merger will bring $825 million in cash and will value the company at $1.6 billion. Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the last three years. Proterra latest bus is their 5th generation, the ZX5, and it is the longest range EV bus on the market (with one 35 seat version capable of 250 miles and a larger one at up to 329 miles). One interesting thing about Proterra is that it appeals to a different segment of the transportation market. Qell Acquisition Corp SPAC Would Make Sense To Target EV Bus Maker Proterra. The company is credited with reducing greenhouse gas emissions by more than … ArcLight is currently trading on the Nasdaq under the ticker symbol “ACTC,” and has seen its stock jump on news of the proposed merger. On January 11, 2021, Proterra entered into a merger agreement with ArcLight Clean Transition Corp. (Nasdaq: ACTCU, ACTC and ACTW), a … Proterra is set to gain $648 million in cash from the merger. When the merger with Proterra was announced in early February, the stock went to $31 and should trend upwards to that at least that mark when the merger date is announced. 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