ChargePoint Secures $150 Million Revolving Credit Facility with JP Morgan, HSBC, Citi and Goldman Sachs
27 Julho 2023 - 5:05PM
Business Wire
ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric
vehicle (EV) charging network, today announced a new credit
agreement which provides for a $150 million revolving credit
facility led by J.P. Morgan Chase Bank as Administrative Agent and
Joint Lead Arranger, HSBC Innovation Banking as Joint Lead
Arranger, and both Citi and Goldman Sachs as Documentation
Agents.
“This $150 million credit facility with four global banking
partners strengthens our ability to grow with our market
opportunities and is consistent with our corporate financing
strategy,” said Rex Jackson, CFO of ChargePoint. “This facility
reinforces ChargePoint’s strong standing with capital sources, and
our dedication to maintaining a solid balance sheet while we pursue
our stated goals of generating positive adjusted EBITDA and
positive cash flow by the end of calendar 2024.”
The credit facility is currently undrawn. Additional information
regarding this announcement may be found in a Current Report on
Form 8-K that ChargePoint intends to file today with the Securities
and Exchange Commission.
About ChargePoint
ChargePoint is creating a new fueling network to move people and
goods on electricity. Since 2007, ChargePoint has been committed to
making it easy for businesses and drivers to go electric with one
of the largest EV charging networks and a comprehensive portfolio
of charging solutions. The ChargePoint cloud subscription platform
and software-defined charging hardware are designed to include
options for every charging scenario from home and multifamily to
workplace, parking, hospitality, retail, and transport fleets of
all types. Today, one ChargePoint account provides access to
hundreds of thousands of places to charge in North America and
Europe. To date, more than 172 million charging sessions have been
delivered, with drivers plugging into the ChargePoint network on
average every second. For more information, visit the ChargePoint
pressroom, the ChargePoint Investor Relations site, or contact the
ChargePoint North American or European press offices or Investor
Relations.
Forward Looking Statement
This press release contains forward-looking statements that
involve risks, uncertainties, and assumptions including statements
regarding our ability to generate positive adjusted EBITDA and
positive cash flow by the end of calendar 2024. There are a
significant number of factors that could cause actual results to
differ materially from the statements made in this press release,
including: macroeconomic trends including changes in or sustained
inflation; prolonged and sustained increases in interest rates, or
other events beyond our control on the overall economy which may
reduce demand for our products and services; geopolitical events
and conflicts; adverse impacts to our business and those of our
customers and suppliers, including due to supply chain disruptions,
component shortages, and associated logistics expense increases;
our limited operating history as a public company; our ability as
an organization to successfully acquire and integrate other
companies, products or technologies in a successful manner; our
dependence on widespread acceptance and adoption of EVs and
increased demand for installation of charging stations; our current
dependence on sales of charging stations for most of our revenues;
overall demand for EV charging and the potential for reduced demand
for EVs if governmental rebates, tax credits and other financial
incentives are reduced, modified or eliminated or governmental
mandates to increase the use of EVs or decrease the use of vehicles
powered by fossil fuels, either directly or indirectly through
mandated limits on carbon emissions, are reduced, modified or
eliminated; our reliance on contract manufacturers, including those
located outside the United States, may result in supply chain
interruptions, delays and expense increases which may adversely
affect our sales, revenue and gross margins; our ability to expand
our operations and market share in Europe; the need to attract
additional fleet operators as customers; potential adverse effects
on our revenue and gross margins due to delays and costs associated
with new product introductions, inventory obsolescence, component
shortages and related expense increases; adverse impact to our
revenues and gross margins if customers increasingly claim clean
energy credits and, as a result, they are no longer available to be
claimed by us; the effects of competition; risks related to our
dependence on our intellectual property; and the risk that our
technology could have undetected defects or errors. Additional
risks and uncertainties that could affect our financial results are
included under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in our Form 10-Q filed with the Securities and Exchange
Commission (the “SEC”) on June 8, 2023, which is available on our
website at investors.chargepoint.com and on the SEC’s website at
www.sec.gov. Additional information will also be set forth in other
filings that we make with the SEC from time to time. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we do not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
applicable law.
CHPT-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20230727725088/en/
ChargePoint John Paolo Canton PST, California Vice
President, Communications JP.Canton@chargepoint.com
AJ Gosselin EST, Boston Director, Corporate Communications
AJ.Gosselin@chargepoint.com media@chargepoint.com
Patrick Hamer Vice President, Capital Markets and Investor
Relations Patrick.Hamer@chargepoint.com
investors@chargepoint.com
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