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Announced

Completed

Electriq Power went public via merger with TLG Acquisition One in a $495m deal.

Financials

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Transaction Value£418m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Reverse Takeover

Domestic

Pending

Renewable Energy Equipment

Single Bidder

Friendly

Acquisition

Merger

De-SPAC

United States

energy equipment

Majority

Private

energy storage

Synopsis

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Electriq Power, a provider of intelligent energy storage and management for homes and small businesses, went public via merger with TLG Acquisition One, a publicly traded special purpose acquisition company, in a $495m deal. "Electriq and TLGA together is a strategic combination for both companies, and consistent with TLGA’s continuing evaluation and pursuit of target companies. Our proposed merger comes at the right time to address the rapidly growing demand in the residential solar energy storage market, technology development and innovation, consumer and provider demand, and government policy and environmental initiatives. We believe that together we can create exciting new opportunities and value for our people, customers, partners, and investors," Mike Lawrie, TLGA CEO.

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