Tortoise Acquisition II today filed a prelimoinary proxy and registrastion statement on its pending merger with Volta, an EV charging network company.
The pro forma enterprise value of the combined enterpirse is expected to be $1.4 billion.
A shareholder vote date has not yet been published.
Anticipated net proceeds of approximately $600 million will be used to accelerate Volta’s buildout of its charging network. This includes an upsized $300 million fully committed PIPE anchored by institutional investors including funds and accounts managed by BlackRock, Fidelity Management & Research Company, and Neuberger Berman Funds.
Upon closing, the combined entity will be named Volta and trade on the NYSE under VLTA. Read more.
