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Next Generation Energy Storage Systems Market 2021 Industry Size, Share, Price, Trend and Forecast to 2026
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Proterra, builder of electric buses, heavy-duty vehicle drivetrains, batteries and charging systems, plans to go public on the Nasdaq exchange via a merger with a special-purpose acquisition company (SPAC), the latest in a string of EV companies seeking access to public market financing to meet growing demand.
Tuesday’s announcement sets the Burlingame, Calif.-based company on a course to merge with ArcLight Clean Transition Corp., with $415 million in private investment in public equity commitments led by Daimler Trucks, as well as Franklin Templeton, Chamath Palihapitiya, Fidelity Management & Research, and funds and accounts managed by private equity firm BlackRock.
The transaction is expected to raise $825 million in cash and set an enterprise value of $1.6 billion for Proterra, which will trade under the ticker symbol PTRA. The company has raised about $682 million from investors including Kleiner Perkins, Daimler, Generation Investment Management, Tao Capital Par
2020 Was a Big Year for SPACs
Posted December 29, 2020
2020 was a big year for special purpose acquisition companies (SPACs). If you aren’t familiar with the term SPAC, it’s a company that has no business operations. Its main purpose is raising capital through an initial public offering (IPO), so it can buy and merge with an existing company to become publicly traded within two years. It has become an alternative way to go public. SPACs are created with the end goal of a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. Sometimes these are already planned out, and the SPACs already have a private company in mind to acquire or merge with. This isn’t a new process. SPACs have existed for a few decades, it’s just that they ve recently picked up steam and attention.
Traders Magazine
Leading U.S. exchange by number of IPOs and proceeds raised for the second consecutive year
Largest year for IPOs on Nasdaq in the past decade by number of IPOs and proceeds raised
$278 billion in market value switched to Nasdaq in 2020
Nasdaq announced that in 2020 The Nasdaq Stock Market welcomed 300 initial public offerings (IPOs), raising a total of $77.86 billion. A total of 179 operating companies listed on Nasdaq in 2020, representing an 83 percent win rate in the U.S. market. Nasdaq extended its leadership to 28 consecutive quarters. In addition to the successful year in IPOs, 21 companies switched their corporate listings from the NYSE to join Nasdaq, and four companies transferred 19 bonds from the NYSE.
Nasdaq Welcomed 300 IPOs And 21 Exchange Transfers In 2020 Date
Leading U.S. exchange by number of IPOs and proceeds raised for the second consecutive year
Largest year for IPOs on Nasdaq in the past decade by number of IPOs and proceeds raised
$278 billion in market value switched to Nasdaq in 2020
Nasdaq (Nasdaq: NDAQ) announced today that in 2020 The Nasdaq Stock Market welcomed 300 initial public offerings (IPOs), raising a total of $77.86 billion. A total of 179 operating companies listed on Nasdaq in 2020, representing an 83 percent win rate in the U.S. market. Nasdaq extended its leadership to 28 consecutive quarters. In addition to the successful year in IPOs, 21 companies switched their corporate listings from the NYSE to join Nasdaq, and four companies transferred 19 bonds from the NYSE.
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