Poema Global Holdings Corp. (PPGH) Adds $10M to Gogoro PIPE
by Nicholas Alan Clayton on 2022-03-21 at 7:28am

Poema (NASDAQ:PPGH) has added $10 million more to its PIPE for EV charging company Gogoro, bringing total PIPE proceeds to $295 million.

The new cash comes as the two companies hit the home stretch in completing the deal. The press release noted that Gogoro expects to tie things up in early April “regardless of redemption levels” although the new additions to the PIPE do not guarantee the transaction will cover its initial $400 million minimum cash condition.

The release did not provide the full terms of the PIPE investment, but a previous addition to Poema’s PIPE announced in January was done at $10 per share and both have been collectively described as an oversubscription of the original PIPE. Existing PIPE investors are primarily strategic investors as well, including Foxconn (TW:2358), Taiwan’s National Development Fund and Temasek and Generation Investment Management.

Poema Global initially announced its $2.3 billion combination with Gogoro in September. Taipei-based Gogoro provides branded e-scooters and battery-swapping kiosks for a range of two-wheeled electric vehicles in Taiwan and China.

Gogoro also announced that it expects to exceed its projected 2021 revenue, with unaudited results showing it generated $326.9 million, about 10% over expected.  It continues to project about $500.2 million in revenue in 2022E.

 

Poema Global Holdings Corp. (PPGH) Adds $10M to Gogoro PIPE
Recent Posts
by Nicholas Alan Clayton on 2025-07-17 at 12:54pm

Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...

by Nicholas Alan Clayton on 2025-07-17 at 8:29am

At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...

by Kristi Marvin on 2025-07-16 at 5:33pm

Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...

by Nicholas Alan Clayton on 2025-07-16 at 8:18am

At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...

by Nicholas Alan Clayton on 2025-07-15 at 7:20pm

Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved