Inactive Instrument

Volta Inc.

VLTA

US92873V1026

Shell to acquire Volta for $169M

January 20, 2023 at 06:16 am EST

Shell USA Inc. has agreed to acquire 100% of the outstanding shares of Class A common stock of Volta Inc., an electric vehicle charging and advertising network, in an all-cash transaction valued at approximately $169 million, according to a press release.

Volta's assets include a public EV charging network of over 3,000 charge points at destination sites including shopping centers, grocery stores and pharmacies across 31 U.S. states and territories, a development pipeline of more than 3,400 additional charge points.

Beyond providing a charging service, Volta specializes in generating advertising revenues from screens embedded into the charge point.

The transaction is expected to close in the first half of 2023, subject to shareholder and regulatory approval.

Latest news about Volta Inc.

Volta Inc. Announces Cessation of Executive Officer	23-03-31	CI
Volta Inc. Announces Management Changes	23-03-31	CI
Shell USA Completes $169 Million Acquisition of Volta	23-03-31	MT
Volta Inc. Reports Earnings Results for the Full Year Ended December 31, 2022	23-03-31	CI
Volta Inc.(NYSE:VLTA) dropped from S&P Global BMI Index	23-03-31	CI
Volta Inc.(NYSE:VLTA) dropped from S&P TMI Index	23-03-31	CI
Volta Inc. Auditor Raises 'Going Concern' Doubt	23-03-30	CI
Shell Oil Company completed the acquisition of Volta Inc. from Energize Ventures LLC and others.	23-03-30	CI
Sector Update: Energy Stocks Climb Premarket Thursday	23-03-30	MT
Ebbing Bank Fears, GDP in Focus as Exchange-Traded Funds, Equity Futures Rise Premarket Thursday	23-03-30	MT
Volta's Stockholders Approve Merger With Shell	23-03-30	MT
Volta's Shareholders Reportedly Approve $169 Million Takeover Offer From Shell	23-03-29	MT
Volta Updates PredictEV Platform to Better Locate EV Charging Stations in Disadvantaged Area	23-03-28	MT
Volta Invited to Due Diligence Program For U.S. Government Loan	23-03-22	DJ
North American Morning Briefing: Banking Sector -2-	23-03-20	DJ
Volta Powers the City of Irving's Community EV Charging Infrastructure Plan Using PredictEV Services	23-02-15	CI
Sector Update: Energy Stocks, Commodities Ending Near Intra-Day Lows	23-01-18	MT
Sector Update: Energy Stocks Retreating Wednesday After Crude Oil Prices Turn Negative	23-01-18	MT
Shell Acquires Volta for $169 Million in All Cash Deal	23-01-18	MT
Shell unit to acquire EV charging firm Volta for about $169 million	23-01-18	RE
Shell USA Buying Volta in $169 Million Deal	23-01-18	DJ
Shell Oil Company entered into an agreement to acquire Volta Inc. for approximately $170 million.	23-01-17	CI
Volta Gets Non-Compliance Notice From NYSE	22-11-28	MT
Barclays Adjusts Price Target on Volta to $0.50 From $2, Maintains Equalweight Rating	22-11-16	MT
Goldman Sachs Adjusts Price Target on Volta to $0.75 From $1, Maintains Sell Rating	22-11-15	MT

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Company Profile

Volta Inc., formerly Tortoise Acquisition Corp. II., primarily owns, operates and maintains electric vehicle (EV) charging stations and has expanded its network across the United States. The Company uses its PredictEV planning software tool internally to predict and forecast expected grid capacity, EV charging penetration and expected charger utilization. The Company operates a network of approximately 2,264 charger points across 23 states and territories. Its business entails partnering with real estate and retail partners with national and regional multi-site portfolios of commercial and retail properties, as well as municipalities and local business owners, to locate and deploy its EV charging stations in various locations, including retail centers, grocery stores, pharmacies, parking lots, restaurants, schools and universities. It also sells charging stations to certain business partners, while continuing to perform related installation, operation and maintenance services.

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Electric Utilities

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