Volta Inc. — commerce-centric EV charging network (1,700+ chargers, 24 territories)
Volta completed business combination with Tortoise Acquisition Corp. II; trading on NYSE as VLTA Aug 27, 2021. 70% redemption rate at the SPAC closing — early sign of cooling SPAC market. ~$600M anticipated net proceeds incl. $300M PIPE. Volta later sold to Shell (March 2023) for ~1/10 of original valuation.
$1.40B
Deal Value
EV
Technology
CA
Location
Deal Details
- Deal Type
- SPAC Merger
- Seller / Sponsor
- Volta Industries Inc.
- Buyer / Financier
- Tortoise Acquisition Corp. II
- Deal Value
- $1.4B (pro forma EV)
- Stage
- Operating
- ISO/RTO
- CAISO
- Source
- Business Wire
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