Announced
Completed
Financials
Tags
De-SPAC
Private
Friendly
Reverse Takeover
Acquisition
Single Bidder
Renewable Energy Equipment
renewable energy equipment
Switzerland
Private Equity
Cross Border
Majority
Completed
Synopsis
Energy Vault, the company creating energy storage solutions, went public via a SPAC merger with Novus Capital Corporation II, a special purpose acquisition company, in a $1.1bn deal. Novus II received $100m of commitments for a common stock PIPE anchored by Adage Capital Partners, Pickering Energy Partners, Sailingstone Capital, SoftBank, Cemex, Palantir Technologies and other investors. “As a public company with a strong balance sheet, we are well positioned to globally scale our energy management and storage solutions toward our core mission of sustainable decarbonization," Robert Piconi, Energy Vault Co-Founder and CEO. On February 10, 2022, stockholders of Novus approved the transaction and announced the deal should close on February 11, 2022.
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