Suffolk, UK-based Juuce Limited, which does business as EO Charging filed a Form F-4 including a preliminary proxy on its proposed merger with First Reserve Sustainable Growth.
If approved, upon closing EO Charging would be listed on the Nasdaq under EOC with a pro-forma enterprise value of $675 million.
Announced last month, the transaction is expected to provide $222 million in gross proceeds assuming no redemptions by the SPAC’s stockholders. Total proceeds include over $150 million to fund EO’s growth plans, retire outstanding indebtedness, and for transaction fees and expenses, with the remainder paid as cash consideration to existing shareholders, in addition to the equity in the combined company to be received by existing shareholders.
Founded in 2014, EO designs and manufactures EV charging stations and hardware-agnostic cloud-based charge-point management software for fleets at its headquarters in the UK. EO also provides installation services and ongoing operations and maintenance services across its fleet customer base.
Both companies still expect the deal to close during the fourth quarter. Read more.
