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ChargePoint secures USD 232 million in equity funding

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Oct 11, 2023

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Oct 11, 2023

ChargePoint secures USD 232 million in equity funding

Funding

ChargePoint, an NYSE-listed EV charging solutions provider, has secured USD 175M in new equity funding from institutional investors through its at-the-market (ATM) offering facility. The company also raised USD 57 million in additional funds through the same facility in Q3 FY2024.
The funds raised will support ChargePoint's goal of achieving adjusted EBITDA profitability in Q4 FY2024.
Analyst QuickTake: This funding announcement follows ChargePoint securing a USD 150 million revolving credit facility in July 2023 . J.P. Morgan Chase Bank acted as the Administrative Agent and Joint Lead Arranger, while HSBC Innovation Banking was the Joint Lead Arranger, and Citi and Goldman Sachs were Documentation Agents. The company intended to use the funds toward its aim of having a positive adjusted EBITDA and positive cash flow by Q4 FY2024.

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