January 12, 2021
Proterra Inc., a leading innovator in commercial vehicle electrification technology, has announced that it will become publicly listed through a transaction with ArcLight Clean Transition Corp. (Nasdaq: ACTCU, ACTC and ACTW), a publicly traded special purpose acquisition company. Upon closing, Proterra’s common stock is expected to trade on the Nasdaq under the ticker symbol PTRA. The transaction represents an enterprise value of US$1.6 billion for Proterra.
Latham & Watkins LLP represents Proterra in the transaction with a corporate deal team led by Houston partner Ryan Maierson and Chicago partners Mark Gerstein and Max Schleusener, with Chicago associates Megan Staub, Lucy Chauvin, Jonathan Sarna, KC Sands and Ryan Hudson. Advice was also provided on intellectual property matters by New York partner Jeffrey Tochner, with associate Meredith Ward; on tax matters by Los Angeles partner Pardis Zomorodi, with associate Brian Rogers; on benefits and compensation matters by Chicago partner Robin Struve, with Chicago associate Leah Segall and New York associate Charnae Supplee; on environmental matters by Chicago partner Robin Hulshizer; and on antitrust matters by Washington, D.C. partner Mandy Reeves and counsel Patrick English, with associate Allen Perry.