Battery-swapping tech company Gogoro® today announced plans to merge with Poema Global Holdings, confirming reports earlier this week that a deal was imminent.
If approved, Gogoro will list on the Nasdaq under GGR.
The business combination is expected to provide approximately $550 million to Gogoro, including an oversubscribed PIPE of over $250 million and $345 million held in trust by Poema. The PIPE is backed by strategic partners including Hon Hai (Foxconn) Technology Group and GoTo Group, the largest technology group in Indonesia, vehicle partners, and new and existing financial investors including Generation Investment Management, Taiwan’s National Development Fund, Temasek and founding investor, Dr. Samuel Yin of Ruentex Group.
Current Gogoro shareholders are rolling 100% of their equity and will hold majority ownership of the combined company at closing. Read more.
