Proterra Becomes Publicly Traded Following Business Combination with ArcLight Clean Transition SPAC

Fenwick represented Proterra, a leading innovator in commercial vehicle electrification technology, in its public listing on the Nasdaq Global Select Market after completing a previously announced business combination with ArcLight Clean Transition, a special purpose acquisition company.

Proterra announced on June 15 that its shares of common stock and warrants will begin trading on the Nasdaq Global Select Market under the new ticker symbols “PTRA” and “PTRAW,” respectively. Proterra has raised more than $640 million in cash from the business combination with ArcLight to fund growth initiatives, including R&D and its next-generation battery program. More information can be obtained from the company’s announcement.

Fenwick has also represented Proterra in previous financings, including a $200 million financing in 2020 and a $155 million financing in 2018.

The Fenwick transaction team handling the business combination included corporate partners Dawn Belt and Per Chilstrom, associates Joshua Damm, Luke Finn and Harrison Dilday; and executive compensation and employee benefits partner Shawn Lampron and associate Jonathan Stephenson.