ChargePoint, Inc. (the “Company” or “ChargePoint”), a leading electric vehicle charging network (“EV”), and Switchback Energy Acquisition Corporation (“Switchback”), a special purpose public trading company with a strategic focus on the energy value chain, announced today that the two companies have completed their business combination (the “Business Combination”). The business combination was approved by Switchback shareholders on February 25, 2021. The New York Stock Exchange for the shares of ordinary shares and the warrants of the combined company, which has been renamed ChargePoint Holdings, Inc., is expected to change to “CHPT” (NYSE: CHPT) and “CHPT.WS” respectively, from March 1, 2021.
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About ChargePoint
ChargePoint creates the new fuel network to move all people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and executives to connect with one of the largest EV charging networks and the most complete portfolio of charging solutions. ChargePoint’s cloud entry platform and software-defined loading hardware are designed to include options for every home and multi-family loading scenario to the workplace, parking, hospitality, retail and transportation fleets of all kinds. One ChargePoint account currently 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 connected to the ChargePoint network approximately every two seconds. For more information, visit the ChargePoint Press Room, the ChargePoint Investor Relations website, or contact ChargePoint’s North American or European Press Offices or Investor Relations.
About Switchback
Switchback is a special purpose acquisition company and was established with the aim of bringing about a merger, capital exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more companies 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, LLC and the management team of Switchback. Switchback started trading on the NYSE in July 2019 and traded its common shares, units and warrants under the symbols SBE, SBE.U and SBE.WS respectively. Visit www.switchback-energy.com for more information.
Forward-looking statements
The information contained herein and in any oral statements made 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 except statements of historical facts contained herein are forward-looking statements. Predictive utterances can usually be identified by using words such as “believe”, “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “must,” ” would, “” plan, “” project, “” forecast, “” predict, “” potential, “” look, “” seek, “” future, “” prospect, “” target “or other similar expressions that predict or indicate future events or trends to or which are not explanations of historical matters. These statements are based on various assumptions, whether or not identified herein, and on the current expectations of the management of ChargePoint and Switchback and are not predictions of future events. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as an investor, guarantee, forecast or definitive statement of fact, or probability, as a guarantee, insurance, forecast or definitive statement. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material.
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Contacts
ChargePoint, Inc.
Media
Darryll Harrison
Senior Director, Global Communications and Social Media
669-237-3380
[email protected]
[email protected]
Switchback Energy Acquisition Corporation
Media and investors
Scott McNeill and Jim Mutrie
[email protected]
Investors
Financial Profiles, Inc.
Dan Oppenheim, CFA
310-622-8235
[email protected]