Allego to begin trading on the New York Stock
Exchange on March 17, 2022 under the ticker symbols ALLG and
ALLG.WS
Spartan Acquisition Corp. III (“Spartan”) (NYSE: SPAQ), a
publicly traded special purpose acquisition company, today
announced the completion of its business combination with Allego
Holding B.V., a leading pan-European electric vehicle charging
network.
In connection with the completion of the business combination,
Allego Holding B.V. has been renamed Allego N.V. (“Allego” or the
“Company”) and its ordinary shares and warrants are expected to
commence trading on the New York Stock Exchange on Thursday, March
17, 2022 under the ticker symbols “ALLG” and “ALLG.WS,”
respectively.
“Through the proceeds raised by this transaction, Allego is now
well-capitalized to accelerate our growth strategy, deploying fast
and ultra-fast charging sites with the support of marquee partners
and advancing our charging solutions business,” said Mathieu
Bonnet, Chief Executive Officer of Allego. “As a public company, we
expect to remain laser-focused on operating the business and
expanding our footprint throughout Europe. We look forward to
working with our partners at Spartan and Meridiam to continue
building on our success, serve our valued partners and EV drivers
across Europe, and drive value creation for our shareholders.”
“We are pleased to complete our business combination with
Allego, a market leading company that we expect will maintain its
strong position within the world’s largest and fastest-growing EV
market. Today the Company has a robust pipeline of committed
premier charging sites across Europe with the support of marquee
partners, having leveraged its best-in-class charging technology
and proprietary software suite to support its continued expansion,”
said Geoffrey Strong, Chairman and Chief Executive Officer of
Spartan and Partner and Co-Head of Infrastructure and Natural
Resources at Apollo. “Europe is an extremely attractive market for
EV charging, and we believe Allego is well-positioned to capitalize
on the shift from internal combustion engines to EVs. At Spartan
and Apollo, we are committed to advancing sustainable business
models and are pleased to support Allego’s growth strategy while
working to eliminate emissions from the environment.”
Transaction Overview
As a result of this transaction, the Company will receive
approximately $161 million of gross proceeds, including from a
private placement (“PIPE”) of ordinary shares anchored by strategic
partners Fisker and Landis+Gyr as well as institutional investors,
including funds and accounts managed by ECP. Investment funds
managed by affiliates of Apollo Global Management, Inc., which also
sponsor Spartan, and by Meridiam, as long-term owner of Allego,
also participated in the PIPE.
Meridiam, the existing shareholder of Allego, will roll 100% of
its equity and, together with management and former advisors, will
own approximately 74 % of the combined entity. Meridiam will
continue to be a long-term strategic partner to the combined
company.
Advisors
Credit Suisse served as sole financial advisor and capital
markets advisor to Allego. Weil, Gotshal & Manges LLP, Clifford
Chance, and NautaDutilh served as legal advisors to Allego.
Barclays served as sole financial advisor and a capital markets
advisor to Spartan; Cowen also served as a capital markets advisor
to Spartan. Credit Suisse and Barclays served as co-lead placement
agent on the PIPE offering. Citi and Apollo Global Securities
served as co-placement agents. Vinson & Elkins L.L.P. served as
legal advisor to Spartan. Latham & Watkins LLP served as legal
advisor to the placement agents.
About Allego
Allego delivers charging solutions for electric cars, motors,
buses and trucks, for consumers, businesses and cities. Allego’s
end-to-end charging solutions make it easier for businesses and
cities to deliver the infrastructure drivers need, while the
scalability of our solutions makes us the partner of the future.
Founded in 2013, Allego is a leader in charging solutions, with an
international charging network comprised of more than 26,000 charge
points operational throughout Europe – and growing rapidly. Our
charging solutions are connected to our proprietary platform,
EV-Cloud, which gives us and our customers a full portfolio of
features and services to meet and exceed market demands. We are
committed to providing independent, reliable and safe charging
solutions, agnostic of vehicle model or network affiliation. At
Allego, we strive every day to make EV charging easier, more
convenient and more enjoyable for all.
About Spartan Acquisition Corp. III
Spartan Acquisition Corp. III is a special purpose acquisition
entity focused on the energy value-chain and was formed for the
purpose of entering into a merger, amalgamation, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. Spartan
is sponsored by Spartan Acquisition Sponsor III LLC, which is owned
by a private investment fund managed by an affiliate of Apollo
Global Management, Inc. (NYSE: APO). For more information, please
visit www.spartanspaciii.com.
Forward-Looking Statements.
This communication includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the United States
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, a guarantee, an assurance, a prediction or a
definitive statement of fact or probability. Spartan’s and Allego’s
actual results may differ from their expectations, estimates, and
projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
“anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,”
“believes,” “predicts,” “potential,” “continue,” and similar
expressions (or the negative versions of such words or expressions)
are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, Spartan’s
and Allego’s expectations with respect to future performance and
anticipated financial impacts of the business combination. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially, and potentially adversely, from those expressed or
implied in the forward-looking statements. Most of these factors
are outside Spartan’s and Allego’s control and are difficult to
predict. Factors that may cause such differences include, but are
not limited to: (i) the outcome of any legal proceedings that may
be instituted against Athena Pubco B.V., a Dutch limited liability
company (the “Athena Pubco”) and/or Allego; (ii) the impact of the
COVID-19 pandemic on Allego’s business and/or the ability of the
parties to complete the business combination; (iii) the inability
to obtain or maintain the listing of Athena Pubco’s ordinary shares
on the New York Stock Exchange following the business combination;
(iv) the risk that the business combination disrupts current plans
and operations; (v) the ability to recognize the anticipated
benefits of the business combination, which may be affected by,
among other things, competition, the ability of Allego to grow and
manage growth profitably, and to retain its key employees; (vi)
costs related to the business combination; (vii) changes in
applicable laws or regulations; and (viii) the possibility that
Allego, Spartan or Athena Pubco may be adversely affected by other
economic, business, and/or competitive factors. The foregoing list
of factors is not exclusive. Additional information concerning
certain of these and other risk factors is contained in Spartan’s
most recent filings with the SEC and in the registration statement
on Form F-4 (the “Form F-4”), including the proxy
statement/prospectus forming a part thereof filed by Athena Pubco
in connection with the business combination on September 30, 2021,
as amended on December 14, 2021, January 18, 2022 and February 1,
2022. All subsequent written and oral forward-looking statements
concerning Spartan, Allego or Athena Pubco, the transactions
described herein or other matters and attributable to Spartan,
Allego, Athena Pubco or any person acting on their behalf are
expressly qualified in their entirety by the cautionary statements
above. Readers are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Each of Spartan, Allego and Athena Pubco expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in their expectations with respect thereto or
any change in events, conditions, or circumstances on which any
statement is based, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220316006143/en/
For Allego Investors investors@allego.eu Media
allegoPR@icrinc.com For Meridiam FTI Consulting
meridiamsc@fticonsulting.com For Spartan Acquisition Corp.
III Investors info@spartanspacIII.com Media
Communciations@apollo.com
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