ArcLight Clean Transportation Corp. (ACTC) Shareholders Approve Proterra Deal
by Marlena Haddad on 2021-06-11 at 2:03pm

ArcLight Clean Transportation Corp. (NASDAQ:ACTC) announced in a press release that its shareholders approved its combination with electric vehicle (EV) manufacturer Proterra at a special meeting earlier today.

The press release did not mention redemptions or exact voting numbers for the business combination, but it notes that ArcLight plans to file the 8-K later today.  The transaction is now expected to close on June 14, and the combined entity’s shares and warrants will start trading on the Nasdaq under the symbol “PTRA” and “PTRAW” on June 15, respectively.

The parties initially announced the $1.6 billion deal on January 12. Proterra designs and manufactures zero-emission electric buses as well as battery and drivetrain components for commercial electric vehicles like construction equipment and heavy trucks. Arclight opened today at $19.05, signaling that the market views this as one of its preferred EV deals of the cycle.


ADVISORS

  • BofA Securities is acting as lead financial advisor to Proterra.
  • Latham & Watkins LLP and Fenwick & West LLP are acting as legal counsel to Proterra.
  • Barclays is acting as M&A advisor to ArcLight Clean Transition Corp.
  • Citigroup is acting as M&A and Capital Markets advisor to ArcLight Clean Transition Corp.
  • Kirkland & Ellis LLP is serving as legal counsel to ArcLight Clean Transition Corp.
  • Morgan Stanley & Co. LLC and Barclays are acting as lead placement agents for ArcLight Clean Transition Corp.
  • BofA Securities is acting as joint placement agent for ArcLight Clean Transition Corp.
ArcLight Clean Transportation Corp. (ACTC) Shareholders Approve Proterra Deal
Recent Posts
by Kristi Marvin on 2025-07-12 at 10:02am

Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...

by Nicholas Alan Clayton on 2025-07-11 at 8:24am

At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...

by Kristi Marvin on 2025-07-10 at 8:31am

A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...

by Nicholas Alan Clayton on 2025-07-10 at 8:27am

At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...

by Nicholas Alan Clayton on 2025-07-09 at 12:57pm

Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved