Proterra announced the intention to become publicly listed through a merger transaction with ArcLight Clean Transition Corp.
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Proterra Stock |
Proterra is a developer of zero-emission heavy-duty vehicles designed to enable bus fleet operators to significantly reduce operating costs while delivering clean, quiet transportation to local communities across North America.
Proterra announced the intention to become publicly listed through a merger transaction with ArcLight Clean Transition Corp.
The special-purpose acquisition company will use $278 million raised through an initial public offering in September as well as $415 million being raised in a private investment in public securities transaction to help finance the deal, regulatory filings show.
Proterra Inc on Tuesday agreed to go public through a merger with ArcLight Clean Transition Corp, in a deal valued at $1.6 billion, including debt, joining several electric vehicle makers that have listed in the last few months.
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