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Next stop, Nasdaq! EV battery-swapping network Gogoro is going public:

https://electrek.co/2021/09/16/next-stop-nasdaq-ev-battery-swapping-network-gogoro-is-going-public/

The battery-swapping Goliath known as Gogoro is going public on the Nasdaq stock exchange in a monumental deal set to value the company at around US $2.3 billion.


Taiwan-based Gogoro has been named the global leader in electric vehicle battery-swapping systems, and currently operates over 800,000 battery packs on the road.

The company has grown considerably over the last several years and announced major partnerships allowing it to enter the massive markets of India and China.

Now Gogoro’s string of industry-shaking announcements continues with this revelation of Gogoro’s plans to go public.

Instead of a traditional IPO, Gogoro has struck a special purpose acquisition company (SPAC) deal with Poema Global Holdings, Corp.

After closing, which is expected in the first quarter of 2022, Gogoro will be listed on the Nasdaq under the symbol GGR.


The deal is expected to land Gogoro an additional nearly $550 million, including $345 million held by Poema.

A private investment in a public entity (PIPE) deal is expected to bring in $250 million funded by strategic partners including Hon Hai (Foxconn) Technology Group and GoTo Group, the largest technology group in Indonesia, plus investments from Generation Investment Management, Taiwan’s National Development Fund, Temasek and Gogoro’s founding investor Dr. Samuel Yin of Ruentex Group.

The deal will help fund Gogoro’s quick-paced plans for international growth. After spending many years developing and perfecting its battery-swapping network in Taiwan, Gogoro now has its sights set on bringing its technology to the rest of the world.