We are pleased to share some exciting news about our company: today we announced that Allego plans to go public and list on the New York Stock Exchange through a business combination with Spartan Acquisition Corp. III (NYSE: SPAQ).
Fund new charging sites and execute on expansion plans
This highly strategic transaction will provide Allego with significant additional financial resources that will enable us to fund the deployment of new public charging sites, build out our technology moat, and execute on our expansion plans. We intend to remain focused on delivering public fast and ultra-fast charging networks and charging solutions to our customers.
Allego remains Allego: the Pan-European EV charging network brand
While our company’s ownership structure will change upon the closing of the transaction, we will continue to operate as “Allego Corporation” under the direction of Mathieu Bonnet as Chief Executive Officer with the support of our experienced management team.
Upon the successful closing of the transaction (expected to close in the fourth quarter of 2021, subject to customary closing conditions), the newly combined company is expected to be listed on the New York Stock Exchange under the new ticker symbol “ALLG”.
Meridiam intends to remain significant shareholder
In 2018 Allego was acquired by Meridiam, a global long-term sustainable infrastructure developer and investor, which provided necessary capital to enable the expansion of Allego’s existing global network, services, and technologies. Meridiam intends to remain a significant shareholder and expects to roll 100% of its equity into the newly public company, as it believes in Allego and its future.
Well positioned to expand our footprint
Mathieu Bonnet, Chief Executive Officer of Allego: “We are excited to announce our strategic partnership with Spartan, which will provide capital to accelerate our leadership position within the European charging market, all while maintaining a strong financial position throughout the growth phase. Europe has one of the largest populations of EVs in the world, which is continuing to grow at a greater pace than many other major growth markets, including the United States. Supported by these tailwinds and bolstered by the capital we are raising, we are well positioned to expand our footprint as EVs increasingly replace traditional internal combustion engines.
Go to the official press release
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