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January 20, 2021 | Tom Ballard

Proterra going public after merger with ArcLight Clean Transition Corporation

Roughly a decade after relocating from Colorado to Greenville, SC, Proterra, a leading commercial electric vehicle technology company, is going public. The announcement was made last week by VentureSouth, also based in Greenville and the entity that joined with the Upstate Carolina Angel Network and SCRA to provide bridge funding in 2011.

The triggering event will be a merger with special purpose acquisition company ArcLight Clean Transition Corporation. The merger transaction, which values Proterra at more than $1.6 billion, will provide the company with substantial resources to continue their impressive growth. The transaction is expected in the second quarter of 2021, and Proterra’s stock will trade on the Nasdaq under the ticker symbol PTRA.

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