Tritium, which makes fast chargers for electric vehicles, has reached an agreement to go public through a merger with blank-check company Decarbonization Plus Acquisition Corp. II.
The deal with the special purpose acquisition company values Tritium at $1.2 billion, the companies said in a statement May 26, confirming a Bloomberg News report. The transaction is expected to generate proceeds of about $403 million.
Unlike most SPAC mergers, Tritium’s combination with Decarbonization Plus II didn’t include raising a private placement.
