Car-charging deal curbs SPAC sticker shock

ACN 650 026 314

27/05/2021 08:48

(The authors are Reuters Breakingviews columnists.  The
opinions expressed are their own.)
    By Antony Currie and Katrina Hamlin
    MELBOURNE, May 27 (Reuters Breakingviews) - Australia-based
Tritium’s $1.7 bln blank-cheque merger includes bold revenue
predictions typical of such tie-ups. But it values the
manufacturer of electric-vehicle fast chargers at a decent
discount to rivals and isn’t raising extra cash. The relative
thriftiness is welcome.
    Full view will be published shortly.
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    CONTEXT NEWS 

    -Australia-based Tritium said on May 26 that it has agreed
to go public in the United States through a merger with a
special-purpose acquisition company that values the maker of
charging stations for electric vehicles at $1.2 billion. Once
completed, the combined company would have an enterprise value
of $1.4 billion, including around $300 million in cash.
    - Unlike most SPAC deals, the tie-up with Decarbonization
Plus Acquisition Corp II does not include a private investment
in public equity, also known as a PIPE.
    - For previous columns by the author, Reuters customers can
click on  CURRIE/ 
 

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BREAKINGVIEWS-SPAC double downer makes room for clever trade    
 urn:newsml:reuters.com:*:nL2N2NB0YW
BREAKINGVIEWS - The art of the SPAC: from sublime to ridiculous 
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BREAKINGVIEWS - SPACs and electric cars drive hype feedback loop
    urn:newsml:reuters.com:*:nL1N2KT02X
EV charger maker Tritium to go public in $1.2 bln SPAC deal   
 urn:newsml:reuters.com:*:nL3N2ND3HA
Tritium presentation    https://tritiumcharging.com/wp-content/uploads/2021/05/Tritium-Investor-Presentation-May-2021.pdf
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
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 | Editing by Jeffrey Goldfarb and Katrina Hamlin)
 ((antony.currie@thomsonreuters.com; Reuters Messaging:
antony.currie.thomsonreuters.com@reuters.net))