Tortoise Acquisition II today announced that an Aug. 25 meeting has been scheduled for shareholders to vote on the business combination with EV charging network Volta Industries.
Tortoise II has also filed a definitive proxy statement/prospectus outlining the business combination.
Anticipated net proceeds of approximately $600 million will be used to accelerate Volta’s buildout of its charging network already in the pipeline. This includes an upsized $300 million PIPE anchored by institutional investors including funds and accounts managed by BlackRock, Fidelity Management & Research Company, and Neuberger Berman Funds.
If approved, upon closing the combined entity will be named Volta and list on the NYSE under VLTA. Read more.