Energy & Sustainability M&A Activity - August 2023

Mintz - Energy & Sustainability Viewpoints

July 17, 2023: Complete Solaria, a leading solar technology, services, and installation company, acquired Freedom Acquisition I Corp through a reverse merger. Complete Solaria is a differentiated solar company with unique technology and end-to-end solar solutions, which include financing, project fulfillment, and customer service. Complete Solaria’s digital platform and its premium solar products provide a one-stop service for customers. The business combination will support Complete Solaria’s goal to continue to scale to meet solar demand, further supporting the acceleration of the global energy transition.

August 1, 2023: Electriq Power, a provider of intelligent energy storage and management for homes and small businesses, acquired TLG Acquisition One through a reverse merger for $495 million to facilitate installations of solar energy and intelligent storage solutions. The transaction (including pre-closing financings) generated over $45 million in equity for Electriq through private placements, PIPEs, loan conversions, and non-redemptions.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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