Money Makers Mentor

ChargePoint to Close $2.4M Merger

Electric-vehicle-recharging company, ChargePoint recently announced a $2.4 million merger with SwitchBack Energy. SwitchBack, a special-purpose-acquisition company based in Dallas, has shares up nearly 1 percent of $12.28. Those involved say the deal will close by the end of next year, and that the combined company will be called ChargePoint Holdings Inc.

Current President and CEO, Pasquale Romano, will remain at his post, with those currently in management positions also remaining. The merger will grant the company roughly $439 million in proceeds, allowing for continued expansion across the US and Europe. Darryll Harrison, Sr. Director and Communications Leader at ChargePoint, said the company saw potential in electric vehicle (EV) charging early on.

In seeing this potential…

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