Electriq Power to Merge with TLG Acquisition One Corp (TLGA) in $495M Deal
November 14, 2022
Electriq Power Holdings Inc., an intelligent energy storage and management provider for homes and small businesses, entered into a definitive merger agreement with TLG Acquisition One Corp. (TLGA), a publicly traded SPAC. The transaction values Electriq at a pro forma pre-money equity value of $495 million and is expected to provide up to $125 million in capital, with the combined company to be listed on the NYSE under ticker ELIQ in the first half of 2023.
- Buyers
- TLG Acquisition One Corp.
- Targets
- Electriq Power Holdings Inc.
- Industry
- Energy
- Location
- California, United States
- Transaction Type
- Buyout
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