Proterra, commercial electric vehicle Technology Leader, is publicly disclosed through a transaction with ArcLight Clean Transition Corp.

News Highlights: Proterra, commercial electric vehicle Technology Leader, is publicly disclosed through a transaction with ArcLight Clean Transition Corp.

BURLINGAME, California and BOSTON, Massachusetts – Proterra Inc. (the “Company”), a leading innovator in commercial vehicle electrification technology, today announced that it will go public through a transaction with ArcLight Clean Transition Corp. (Nasdaq: ACTCU), ACTC and ACTW) (“ArcLight”), a publicly traded specialty acquisition company. At closing, Proterra’s common stock is expected to trade on the Nasdaq under the ticker symbol PTRA. The transaction represents an enterprise value of $ 1.6 billion for Proterra.

Includes $ 415 million PIPE investments anchored by Daimler Trucks and Franklin Templeton, Chamath Palihapitiya, Fidelity Management & Research Company LLC, and funds and accounts managed by BlackRock Proterra to have up to $ 825 million in cash to fund growth

Diversified provider of EV technologies

Proterra is a fast-growing leader in commercial electric vehicle technology with over a decade of manufacturing experience. The company has a …

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