European Sustainable Growth Acquisition climbs on $580 mln merger

Ads-Tec Energy

11/08/2021 13:31

** Shares of the sustainability-focused blank-check company
 EUSG.O  up 1.4% at $9.89 premarket
    ** Co to merge with German energy infrastructure company
ADS-TEC Energy GmbH, which will be listed on Nasdaq after the
deal  urn:newsml:reuters.com:*:nPreQGWHGa
    ** Deal values combined firm at nearly $580 mln; it also
includes a $156 million in a Private Investment in Public Equity
(PIPE)
    ** ADS-TEC, which provides EV charging solutions, says will
use proceeds from the deal to expand more aggressively in the
U.S. and Europe
    ** SPAC raised $125 mln in its IPO in January

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))