European Sustainable Growth Acquisition is buying Germany’s ADS-TEC Energy GmbH, which creates technology used for electric charging platforms. The deal would give the combined firm a market value of about $580 million.
EUSG has secured commitments for a fully subscribed $156 million PIPE that is anticipated to close one business day prior to the combination. Investors in the PIPE include APG, Invesco, Polar Structure and SwedbankRobur.
If approved, upon closing the combined entity will be named ADS-TEC Energy and remain listed on the Nasdaq. Read more.
