Star Peak Energy Transition today filed a preliminary proxy outlining its proposed merger with Stem, which designs and manufactures clean energy storage systems.
A shareholder vote date was not included in the prospectus, only a placeholder for the date.
Terms call for each outstanding share of Stem common stock, including common stock held by prior owners of Stem preferred stock to be cancelled and converted into the right to receive a pro rata portion of an aggregate amount of 65,000,000 shares of Star Energy stock. The business combination values the combined company at $1.35 billion. Read more.
