Stem Inc - Ordinary Shares - Class A

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26.66
+1.57 (+6.26%)
4:36:23 PM EDT: $26.80 +0.14 (+0.53%)
Debt Financing / Related, Exchange Changes, Mergers / Acquisitions

Stem, Inc Says Upon Closing Of Transaction, Combined Co Will Be Named Stem And Remain Listed On New York Stock Exchange Under New Ticker Symbol "Stem"

Published: 12/04/2020 13:29 GMT
(STPK) - Press Release - Stem, Inc. – Market Leader in Ai-driven Clean Energy Storage Systems – to Combine With Star Peak, Creating First Public Pure Play Smart Energy Storage Company.
Stem, Inc - Upon Closing of Transaction, Combined Co Will Be Named Stem and Remain Listed on New York Stock Exchange Under New Ticker Symbol "stem".
Stem, Inc. - Combined Company Will Be Led by John Carrington, CEO of Stem.
Stem, Inc - Deal Values Combined Co at $1.35 Billion Pro Forma Equity Value, at Price of $10.00/star Peak Share, Assuming No Redemptions by Star Peak Shareholders.
Stem, Inc - Transaction Will Provide $608 Million of Gross Proceeds to Company.
Stem, Inc - Gross Proceeds Includes $225 Million Fully Committed Common Stock Pipe at $10.00 per Share Anchored by Existing and New Investors.
Stem, Inc - Pipe Investors Include Funds & Accounts Managed by Blackrock, Adage Capital Management, Electron Capital Partners, Senator Investment.
Stem, Inc - All Stem Shareholders Will Roll 100% of Their Equity Holdings Into New Public Co.