Switchback Energy Acquisition Corporation Announces Stockholder Approval of Proposed Combination with ChargePoint, Inc.
25 Februar 2021 - 4:41PM
Switchback Energy Acquisition
Corporation (NYSE: SBE) (“Switchback”) announced that at a
Special Meeting of stockholders held today, Switchback’s
stockholders voted in favor of the proposed business combination
(the “Business Combination”) with ChargePoint, Inc.
(“ChargePoint”), a leading electric vehicle (“EV”) charging
network. The completion of the Business Combination is expected to
occur tomorrow, February 26, 2021, subject to the satisfaction or
waiver of customary closing conditions. Following the closing of
the Business Combination, the combined company will be renamed
“ChargePoint Holdings, Inc.” and it is anticipated that on March 1,
2021, the ticker symbol of its shares of common stock and warrants,
which are listed on the New York Stock Exchange, will be changed to
“CHPT” and “CHPT WS,” respectively.
Additional Information on the Business Combination and
Where to Find ItIn connection with the proposed Business
Combination, Switchback filed a Registration Statement with the
Securities and Exchange Commission (the “SEC”), which includes a
proxy statement/prospectus of Switchback and a consent solicitation
statement of ChargePoint. The Registration Statement has been
declared effective by the SEC. Switchback’s stockholders and other
interested persons are advised to read the definitive proxy
statement/prospectus/consent solicitation statement (including all
amendments and supplements thereto) and other documents relating to
the Business Combination filed with the SEC as these materials
contain important information about Switchback, ChargePoint and the
Business Combination. Stockholders may obtain copies of the
definitive proxy statement/prospectus/consent solicitation
statement and other documents filed with the SEC, without charge,
at the SEC’s web site at www.sec.gov.
About Switchback Switchback is a special
purpose acquisition company and was formed for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses in the energy value chain. Switchback is
sponsored by NGP Switchback, LLC, which is owned by a private
investment fund advised by NGP Energy Capital Management, L.L.C.
and the management team of Switchback. Switchback began trading on
the NYSE in July 2019 and its common stock, units and warrants
trade under the ticker symbols SBE, SBE.U and SBE.WS, respectively.
For more information, please visit www.switchback-energy.com.
About ChargePointChargePoint is creating the
new fueling network to move all people and goods on electricity.
Since 2007, ChargePoint has been committed to making it easy for
businesses and drivers to go electric with one of the largest EV
charging networks and most complete portfolio of charging solutions
available today. ChargePoint’s cloud subscription platform and
software-defined AC level 2 and DC fast charging hardware are
designed to include options for every charging scenario from home
and multifamily to workplace, parking, hospitality, retail and
transport fleets of all types. Today, one ChargePoint account
provides access to hundreds-of-thousands of places to charge in
North America and Europe. To date, more than 88 million
charging sessions have been delivered, with drivers plugging into
the ChargePoint network approximately every two seconds. For more
information, visit the ChargePoint pressroom, the ChargePoint
Investor Relations site, or contact ChargePoint’s North American or
European press offices or Investor Relations.
Forward Looking StatementsThe information
included herein and in any oral statements made in connection
herewith include “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical facts
contained herein are forward-looking statements. Forward-looking
statements may generally be identified by the use of words such as
“believe,” “may,” “will,” “estimate,” “continue,” “anticipate,”
“intend,” “expect,” “should,” “would,” “plan,” “project,”
“forecast,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” “target” or other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements include, but
are not limited to, statements regarding estimates and forecasts of
other financial and performance metrics, projections of market
opportunity and market share. These statements are based on various
assumptions, whether or not identified herein, and on the current
expectations of ChargePoint and Switchback’s management and are not
predictions of actual performance. These forward-looking statements
are provided for illustrative purposes only and are not intended to
serve as, and must not be relied on by any investor as a guarantee,
an assurance, a prediction or a definitive statement of, fact or
probability. Actual events and circumstances are difficult or
impossible to predict and may differ from assumptions, and such
differences may be material. Many actual events and circumstances
are beyond the control of ChargePoint and Switchback. In addition,
forward-looking statements reflect Switchback’s and ChargePoint’s
expectations, plans or forecasts of future events and views as of
the date hereof. Switchback and ChargePoint anticipate that
subsequent events and developments will cause Switchback’s and
ChargePoint’s assessments to change. However, while Switchback and
ChargePoint may elect to update these forward-looking statements at
some point in the future, Switchback and ChargePoint specifically
disclaim any obligation to do so. These forward-looking statements
should not be relied upon as representing Switchback’s and
ChargePoint’s assessments as of any date subsequent to the date
hereof. Accordingly, undue reliance should not be placed upon the
forward-looking statements. Additional information concerning these
and other factors that may impact Switchback’s expectations and
projections can be found in Switchback’s periodic filings with the
SEC, including Switchback’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2020 and the definitive proxy
statement/prospectus/consent solicitation statement. Switchback’s
SEC filings are available publicly on the SEC’s website at
www.sec.gov.
No Offer or SolicitationThis communication does
not constitute an offer to sell or the solicitation of an offer to
buy any securities or constitute a solicitation of any vote or
approval.
Contacts ChargePoint,
Inc.MediaDarryll Harrison Senior
Director, Global Communications and Social
Media669-237-3380Darryll.harrison@chargepoint.commedia@chargepoint.com
Switchback Energy Acquisition
CorporationMedia and InvestorsScott
McNeill and Jim Mutrieinfo@switchback-energy.com
InvestorsFinancial Profiles, Inc.Dan Oppenheim,
CFA310-622-8235investors@chargepoint.com
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