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Electric vehicle charge network ChargePoint nears deal to go public: Report The deal for ChargePoint could value the company at more than $2 billion and be announced as early as next week
By Joshua Franklin and Ben Klayman (Reuters) - ChargePoint Inc, one of the world's oldest and largest electric vehicle charging networks, is nearing a deal to go public through a reverse merger with Switchback Energy Acquisition Corp, people familiar with the matter said on Wednesday. The deal for ChargePoint could value the company at more than $2 billion (1.54 billion pounds) and be announced as early as next week, the sources said, cautioning that talks could still collapse
and terms may still change. The sources requested anonymity as the matter is private. ChargePoint declined to comment. Switchback did not immediately respond to requests for comment. Switchback quickly rose 11% after the news and was halted. After trading resumed it was up 27.5% at $13.32. Trading volume was 8.4 times its 10-day moving average. Campbell, California-based ChargePoint, founded in 2007, last month closed on a $127 million funding round which valued the company at $1.37 billion, according to PitchBook data....Read More