A live webcast of the call will be available here. Anticipated net proceeds of approximately $600 million will be used to accelerate… Volta's charging stations feature large eye-catching digital displays that function as a sophisticated media network, providing brands a way to reach millions of shoppers moments before they enter a store. Found inside – Page 72In the short run , entry by acquisition over the decade of the 1970s affected more workers per year than did entry by plant creation . But mergers come in ... Stock on the move: Tortoise Acquisition on merger, SPI Energy on launch of electric vehicle unit. Disclosure - Disclaimer - Privacy Policy - Terms and Conditions, Carnival Crusie (NYSE: CCL) and Royal Caribbean (NYSE:RCL) stock forecast for 2021, Pharmaceutical and Biotechnological Stocks, $300 million PIPE investment at $10.00 a share. Found inside – Page 18... by altering the relative incentives of firms to focus on research and development activities instead of , say , mergers and acquisitions . Found inside – Page 14460 Aruni Mukherjee, “”India, China Tortoise, Hare?”, Asia Times, 18 August 2005. “India Inc Embarks on a Merger and Acquisition Spree”, Free Press Journal ... To learn more, visit https://tortoisespac.com. In the same year, the company also expects to install 26,242 charging stations. Overall, SNPR will be one to watch over the next few weeks. The pro forma implied market capitalization of the combined company is over $2 billion, at the $10.00 per share PIPE subscription price and assuming minimal public shareholders of Tortoise Acquisition Corp. II exercise their redemption rights. - Volta is a leading owner - operator of public electric vehicle charging infrastructure that is prominently located in places where drivers live, work, shop and play. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Looking ahead, the company expects to generate $47 Million in 2021 and $141 Million in 2022. - Pro Forma enterprise value of the transaction is estimated to be $1.4 billion. said Scott Mercer, Founder and CEO of Volta. Found inside – Page 14WHEELS Protracted delays in litigating bank mergers and acquisitions continue to ... at a tortoise pacea trial date for this merger case has yet to be set . The information above is not financial advice. As previously announced, on February 7, 2021, Tortoise Acquisition Corp. II, a Cayman Islands exempted company ('TortoiseCorp'), SNPR Merger Sub I, Inc., a Delaware corporation and wholly owned subsidiary of TortoiseCorp ('First Merger Sub'), SNPR Merger Sub II, LLC, a Delaware limited liability company … As a refresher, Tortoise Acquisition and Hyliion had announced their plans to undergo a merger back in June 2020. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Found inside – Page 51Business revenue advising on mergers and acquisitions was knocking on $4 trillion ... The slow and reliable tortoise always gets to the finishing line ... - Pro forma implied equity value of the combined company of over $2 billion, at the $10.00 per share PIPE price and assuming minimal redemptions by Tortoise Acquisition Corp. II public shareholders. Found inside – Page 168... analogous to the situation of the rabbit and the tortoise but rather to an ... indicated to Welch that Trans Union might be a good acquisition candidate ... "Volta’s unique business model is poised to capture the vast consumer spending shifts that will accompany our society’s shift from carbon to electric," said Scott Mercer, Founder and CEO of Volta. Barclays Capital Inc. and Goldman Sachs & Co. LLC served as joint-placement agents on the PIPE offering. All statements, other than statements of present or historical fact included in this presentation, regarding Tortoise Acquisition Corp. II’s proposed acquisition of Volta, Tortoise Acquisition Corp. II’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These funds will be used to accelerate product commercialization, product production, demand generation efforts, operational growth and for general corporate purposes. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Tortoise Acquisition Corp. II’s periodic filings with the Securities and Exchange Commission (the “SEC”), including Tortoise Acquisition Corp. II’s final prospectus for its initial public offering filed with the SEC on September 14, 2020. All statements, other than statements of present or historical fact included in this presentation, regarding Tortoise Acquisition Corp. II's proposed acquisition of Volta, Tortoise Acquisition Corp. II's ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. Found inside – Page 24While I'm certainly not an authority on mergers and acquisitions , I can share with you the observations of people who have been directly involved in those ... Tortoise Acquisition Corp. II and its directors and officers may be deemed participants in the solicitation of proxies of Tortoise Acquisition Corp. II’s shareholders in connection with the proposed business combination. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Tortoise Acquisition Corp. II (NYSE: SNPR) is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFD assets. This merger will drive expansion for the new EV company and will remain on the NYSE with ticker symbol HYLN. The pro forma enterprise value of the combined company is expected to be approximately $1.4 billion at the $10.00 per share PIPE price. In connection with the proposed business combination, Tortoise Acquisition Corp. II will file a registration statement on Form S-4 (the “Registration Statement”) with the SEC. Here’s what Tortoise Acquisition Corp’s CEO had to say: Strategically located in places where consumers already spend their time and money, Volta's chargers are among the most used electric vehicle charging stations in the United States. The proposed merger will see the combined company list on the New York stock Exchange under the ticker symbol VLTA. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The Registration Statement will include a proxy statement/prospectus of Tortoise Acquisition Corp. II. Tortoise Acquisition Corp II SPAC Begins Trading msn.com - September 11 at 6:00 PM: Tortoise Acquisition Shareholders To Vote On Hyliion Merger Sept. 28 finance.yahoo.com - September 10 at 10:17 AM: 3 Electric Vehicle Stocks That Are Better Than Tesla fool.com - September 6 at 8:04 AM Found inside – Page 66For example, is it agile and aggressive like a tiger, or slow and ponderous like a tortoise? Would other members think of the organization in the same ... SAN FRANCISCO, CA AND LEAWOOD, KS, Feb 8, 2021 – Volta Industries, Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, and Tortoise Acquisition Corp. II (NYSE: SNPR), a publicly traded special purpose acquisition company with a strategic focus on energy sustainability and decarbonizing transportation, today announced they intend to merge. For over a decade, Volta has been building a nationwide electric vehicle charging network to drive the world forward. The pro forma enterprise value of the combined enterpirse is expected to be $1.4 billion. Barclays Capital Inc. and Goldman Sachs & Co. LLC served as joint-placement agents on the PIPE offering. At this stage, investors await a confirmed date for the shareholder vote which will be one of the final steps in the merger. "With the shift to electric mobility, consumers will expect to fuel where they go. Now what Auto investors are now in sit-and-wait mode until Tortoise… Furthermore, the company expects to install 3,142 stations this year and 6,492 in 2022. Upon the closing of the transaction, the combined entity will be named Volta Inc. and remain on the New York Stock Exchange ("NYSE") under the new ticker symbol "VLTA.". Volta Tortoise Acquisition Corp. II spiked as much as 47% on Monday on news of a merger deal with Volta Industries. We are now official partners with eToro. It plans to merge with Tortoise Acquisition Corp., a special-purpose acquisition company, by this fall. Tortoise Acquisition II today filed a prelimoinary proxy and registrastion statement on its pending merger with Volta, an EV charging network company. The pro forma enterprise value of the combined company is expected to be approximately $1.4 billion at the $10.00 per share PIPE price. Headquartered in San Francisco, Volta is bringing to communities the means of building a sustainable fueling network for the 21st century. The combined company is expected to be worth around $1.5 billion. The PIPE is anchored by institutional investors including funds and accounts managed by BlackRock, Fidelity Management & Research Company, LLC and Neuberger Berman Funds. In particular, shares of special purpose acquisition company Tortoise Acquisition , which aims to bring electric-truck drivetrain maker Hyliion public in a reverse merger … Anticipated net proceeds of approximately $600 million will be used to accelerate Volta’s buildout of its charging network already in the pipeline. The funds will be used to further accelerate Volta's efforts to continue to grow and unlock the value of its contract portfolio, as well as increasing its investment in product, engineering and network charging infrastructure. Information concerning the interests of Tortoise Acquisition Corp. II’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Volta and Tortoise will co-host an investor conference call to discuss the proposed transaction today, Monday, February 8, 2021 at 8:30 am ET. Video Transcript. These sponsor-supported charging stations provide energy to customers who are able to plug in their vehicles where and when they shop. In connection with the proposed business combination, Tortoise Acquisition Corp. II will file a registration statement on Form S-4 (the "Registration Statement") with the SEC. Youth Investment Group has no liability for personal financial interests or investment decisions. The company will receive an aggregate of approximately $600 million of net proceeds from an upsized $300 million PIPE, and $345 million of cash held in trust assuming minimal public shareholders of Tortoise Acquisition Corp. II exercise their redemption rights. Completion of the proposed transaction is subject to, among other things, the approval of the shareholders of Tortoise Acquisition Corp. II, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions and is expected to occur late in the second quarter of 2021. Tortoise Acquisition Corp. II (NYSE: SNPR) is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share … eToro Disclaimer – Your capital is at risk. Volta’s charging stations benefit brands, consumers, and real-estate locations by providing valuable advertising space to businesses and free charging to drivers. Buy the Pullback in Tortoise Acquisition II Ahead of Its Merger with Volta Priced better than other EV charging SPACs, the long-term potential of SNPR stock may outweigh the risk Found inside – Page 57When both parties to the merger continue in the industry , negative ... Like the tortoise and the hare , they both arrive at the finish line in 1979 close ... Found inside – Page 2388... UT : acquisition of property for implementation of a desert tortoise ... of Appalachian Agriculture : issue guidelines on mergers by wholesale region ... Vinson & Elkins L.L.P. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. ... Tortoise Acquisition and SPI Energy. Volta's charging stations feature large eye-catching digital displays that function as a sophisticated media network, providing brands a way to reach millions of shoppers moments before they enter a store. Found inside – Page 143I took off my tortoise ... Miles was a master of the universe, an investment banker specializing in mergers and acquisitions. I hadn't seen him in about a ... On Monday, shareholders of Tortoise Acquisition Corp. , a special-purpose acquisition company, or SPAC, approved a merger with the Texas-based battery-powered heavy-duty truck company. A shareholder vote date has not yet been published. Learn how your comment data is processed. All existing Volta shareholders and investors will continue to hold their equity ownership in the combined company, including Volta management and others. Named after Alessandro Volta, the inventor of the electric battery, Volta's award-winning charging stations benefit brands, consumers, and real-estate locations by providing valuable advertising space to businesses and free charging to drivers. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Tortoise Acquisition Corp. II's executive officers and directors in the solicitation by reading Tortoise Acquisition Corp. II's final prospectus for its initial public offering filed with the SEC on September 14, 2020, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. That wasn’t a surprise. The Volta charging stations are among the most used in the United States currently. Shares of special purpose acquisition company (SPAC) Tortoise Acquisition II (NYSE:SNPR) are currently trading almost exactly where they started the year. Except as otherwise required by applicable law, Tortoise Acquisition Corp. II and Volta disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Tortoise Acquisition Corp. II (NYSE: SNPR.U) is a blank check company newly incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Describes how to pick a group of stocks of highly steady, moderate growth companies that offer consistent returns at a minimal risk Found inside – Page 118Sam put on a pair of tortoise-framed glasses and, coffee cup in hand, ... Mergers and acquisitions—don't worry, I won't bore you with the details. Volta aims to capitalise on Megatrend tailwinds including electrification, decarbonization, digital media and big data. Security holders of Tortoise Acquisition Corp. II are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. They are joined by Volta's executive team: Chief Strategy Officer, Drew Lipsher; General Counsel, Jim DeGraw; CFO, Debra Crow, CTO, Praveen Mandal; CMO, Nadya Kohl; and CRO, Brandt Hastings. The transaction is expected to be completed around the third quarter of 2020. The emerging market that Volta aims to tap into is clearly an exciting prospect for investors. is serving as legal advisor to Tortoise Acquisition Corp. II. Volta Industries generated $25 Million in revenue last year with majority of the revenue resulting from their charging network segment. Found inside – Page 109Organic growth versus acquisition We are focusing on mergers and acquisitions ... It's not a sexy quick win, but it's often a 'tortoise beats hare' outcome. Currently located in 23 states and over 200 municipalities, Volta's approach has gained significant acceptance and penetration in the market. The deal includes an upsized $325 PIPE at $10 per share. The Tortoise Acquisition and Volta merger will likely close in the second quarter of 2021. The merger is subject to approval from Tortoise Acquisition… Found insidemoment when the tortoise was going to overtake the hare and at the end of this ... abandoned its equities and mergers and acquisitions advisory business and ... and Tortoise Acquisition Corp. II Announce Planned Merger Combined Company to Remain on the NYSE. Volta Industries, Inc. ("Volta"), an industry leader in commerce-centric ... The funds will be used to further accelerate Volta's efforts to continue to grow and unlock the value of its contract portfolio, as well as increasing its investment in product, engineering and network charging infrastructure. This includes an upsized $300 million fully committed private placement of common stock in the combined company. In addition, Tortoise Acquisition Corp. II cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Tortoise Acquisition Corp. II or Volta following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of Tortoise Acquisition Corp. II, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts Tortoise Acquisition Corp. II's or Volta's current plans and operations as a result of the announcement of the transactions; (v) Volta's ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Volta to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Volta may be adversely affected by other economic, business, and/or competitive factors. But they hardly went in … Tortoise Acquisition Corp. II and its directors and officers may be deemed participants in the solicitation of proxies of Tortoise Acquisition Corp. II's shareholders in connection with the proposed business combination. Tortoise Acquisition Corp. II’s expertise spans across the entire energy and infrastructure value chain. The company noted that Volta’s average 2021-2023 gross margin percentage is 10% higher than EV charging competitors. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Tortoise Acquisition Corp. II’s executive officers and directors in the solicitation by reading Tortoise Acquisition Corp. II’s final prospectus for its initial public offering filed with the SEC on September 14, 2020, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Tortoise Acquisition Corp. Chairman and CEO Vince Cubbage is leading the reverse merger to make electric drivetrain startup Hyliion Inc. a public company. Tortoise Acquisition Corp. II (NYSE: SNPR) is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We are looking forward to supporting them as they continue to deploy their differentiated public charging network and do their part to contribute to a brighter and cleaner energy future.". Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Found inside... but quietly, and completed a series of mergers and acquisitions. ... Department The race between the hare and the tortoise is a well-known allegory. The Registration Statement will include a proxy statement/prospectus of Tortoise Acquisition Corp. II. Key Points Special purpose acquisition company Tortoise Acquisition Corp. and electric truck company Hyliion will vote on their merger on Sept. 28. In particular, the revenue guidance provided by the company highlights the emerging market opportunity. Named after Alessandro Volta, the inventor of the electric battery, Volta's award-winning charging stations benefit brands, consumers, and real-estate locations by providing valuable advertising space to businesses and free charging to drivers. Read the source article at … "With the shift to electric mobility, consumers will expect to fuel where they go. No Offer or SolicitationThis communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval. Found inside – Page 60878Public Service Company of New Mexico Tortoise Capital Resources Corp. , 60981 ... 60996 Formations of , Acquisitions by , and Mergers of Bank Holding ... Found inside – Page 429... funds and financial institutions in the areas of mergers and acquisitions ... Tortoise North American Energy Corporation , Initial Public Offering of ... For more information on our partnerships see our disclosure statement here. - The combined company is expected to be listed on the NYSE under the New Ticker "VLTA" once the transaction closes. Found inside – Page 104Thus , these Tortoise stocks provide significant diversification in contrast to the ... that can handle the merger or acquisition process effectively . Found inside – Page 41EXECUTING INNOVATION THE TORTOISE AND THE HARE Dr. Roland W. Schmitt * General ... place under the rubric of " acquisitions , mergers , and restructuring . - Volta has entered into a definitive business combination agreement with Tortoise Acquisition Corp. II (NYSE: SNPR). Tortoise’s expertise spans across the entire energy and infrastructure value chain. “Volta is a clear leader in EV infrastructure with exceptional unit economics and a truly differentiated business model. By 2025, the company expects to generate $826 Million in revenue with the charging network driving 56% of sales. Anticipated net proceeds of approximately $600 million will be used to accelerate Volta's buildout of its charging network already in the pipeline. Volta will anchor the infrastructure change, transforming fueling locations away from standalone gas stations to high traffic locations in the community where consumers live, work, and play.”, “We have looked for an opportunity where our capital could be the catalyst to unlock the full potential of a high-growth business with a market-leading position, and have drawn upon our expertise in the EV-space,” said Vince Cubbage, CEO and chairman of Tortoise Acquisition Corp. II. Volta will anchor the infrastructure change, transforming fueling locations away from standalone gas stations to high traffic locations in the community where consumers live, work, and play. Tortoise Acquisition Corp. II (NYSE: SNPR) is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition… Our strategy has been to combine with a company to take advantage of the global opportunities created by the energy transition including clean energy generation and storage, alternative fuels and transportation, technological advances and changes in energy policies. from 8 AM - 9 PM ET. Tortoise Acquisition Corp. II and Volta caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Tortoise Acquisition Corp. II or Volta. Found inside – Page 51An Insider's Look at Mergers and Their Consequences Isadore Barmash. ities . The Kemper and Statesman purchases capped a binge of insurance acquisitions ... Vinson & Elkins L.L.P. Found inside – Page 280... by said organizers through acquisition and merging of films theretofore made ... due to resemblance to a cross between a tortoise and an Armadillo ... Found inside – Page 21Like the tale of the tortoise and the hare, some businesses choose to take a commanding ... selling to business growth through mergers and acquisitions. - Volta's significant contract portfolio of real estate and retail partners (including Ahold Delhaize, Brookfield, Regency and others), as well as the company's iconic installations at the United Center and Dignity Health Arena as examples, highlight Volta's market leading position in convenience, high-accessibility public charging. September 24, 2020, 9:48 AM. Tortoise Acquisition Corp. was formed for the purpose of effecting a merger, stock exchange, acquisition, reorganization or similar business combination with … Barclays Capital Inc. served as exclusive M&A advisor to Tortoise Acquisition Corp. II. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Tortoise Acquisition Corp. II's periodic filings with the Securities and Exchange Commission (the "SEC"), including Tortoise Acquisition Corp. II's final prospectus for its initial public offering filed with the SEC on September 14, 2020. We are thrilled that they chose us as partners to help them realize and accelerate the company’s enormous potential. This includes an upsized $300 million fully committed private placement of common stock in the combined company (the "PIPE"). Bank holding companies: a practical guide to Bank acquisitions and mergers $ 44.39, that stake is worth than! 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