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Star Peak Energy Transition Corp. (NYSE: STPK) is urging common stockholders to vote for the proposed merger with Stem, Inc., a leader in AI-driven clean energy storage systems. The virtual Special Meeting is set for April 27, 2021, with voting open until April 26, 2021. Shareholders who held stock as of March 4, 2021, should participate to ensure timely merger closure. Voting options include online, by phone, or by mail. The approval is crucial for the merger to proceed, highlighting the importance of stockholder participation.
Star Peak Energy Transition Corp. (NYSE:STPK) is reaffirming its Special Meeting on April 27, 2021, to approve its business combination with Stem, Inc. If approved, the merger is expected to close soon after, pending other conditions. The company is currently assessing a recent SEC statement on accounting for SPAC warrants, which may impact its previously issued financial statements. Star Peak plans to provide updates if a restatement is needed, but does not expect changes to the merger timeline.
Star Peak Energy Transition Corp. (NYSE: STPK) announces the effectiveness of its registration statement for the merger with Stem, Inc., a leader in AI-driven clean energy storage. Stockholders as of March 4, 2021, will receive a definitive proxy statement for a Special Meeting scheduled on April 27, 2021, to vote on the merger. If approved, the business combination is expected to close shortly thereafter. Voting is available online, by phone, or by mail. The press release emphasizes the aim of the merger to enhance energy storage solutions and provide a sustainable energy infrastructure.
Stem, a leader in AI-driven clean energy storage, has announced a definitive agreement with Star Peak Energy Transition Corp. to merge, enabling Stem to become a public entity under the ticker symbol STEM. The transaction values the combined company at $1.35 billion, offering $608 million in gross proceeds. Stem has significant market presence with over 600 MWh commissioned and a 75% market share in California's commercial storage market. The merger aims to accelerate growth and expand operations globally, addressing a $1.2 trillion market opportunity in energy storage.
