EO Charging cancelled the acquisition of First Reserve Sustainable Growth Corp. from First Reserve Sustainable Growth Sponsor LLC and others in a reverse merger transaction.
Completion of the proposed transaction is subject to customary closing conditions including the approval of First Reserve Sustainable Growth stockholders. The NewCo Ordinary Shares shall have been accepted for listing on NASDAQ, or another national securities exchange mutually agreed to by the Parties, as of the Closing Date. The Registration Statement shall have been declared effective under the Securities Act. The amount of Available Cash shall not be less than $91,392,864. The transaction has been unanimously approved by the boards of EO Charging and First Reserve Sustainable Growth. As of February 16, 2022, Juuce and First Reserve Sustainable Growth have entered into the First Amendment to Business Combination Agreement and Plan of Reorganization. The transaction is expected to occur in the fourth quarter of 2021. As of December 2, 2021, the transaction is expected to close in the first quarter of 2022. As of February 16, 2022, Juuce and First Reserve extended the Outside Date (as defined in the Business Combination Agreement) from February 8, 2022, to March 11, 2022. The proceeds from this transaction will be sued to drive global expansion and open more offices around the world.
Anisha Dhawan of Evercore is acting as financial and capital markets advisor to EO Charging. Jackie Cohen, Dawn Kim, Michael Francies, Jenny Doak, Barry Fishley, Devon Bodoh, Paul Wessel, Lyuba Goltser, Kaitlin Descovich, Michael Epstein, Annemargaret Connolly, Kevin Sullivan and Vadim Brusser of Weil, Gotshal & Manges LLP is acting as legal advisors to EO Charging. Barclays is acting as sole financial advisor to First Reserve Sustainable Growth. Barclays and Goldman Sachs are acting as capital markets advisors to First Reserve Sustainable Growth. Ramey Layne, Ramey Layne, Lucy Jenkins, Jim Meyer, Jason McIntosh and Natan Leyva, Andrew Callaghan, Devika Kornbacher, Sean Becker, Martin Luff, Julia Petty, Matthew Dobbins, Hill Wellford, Randy Jurgensmeyer and Sarah Mitchell of Vinson & Elkins acted as legal advisors to First Reserve Sustainable Growth. Zouk Capital LLP and Infrastructure Advisory Network Limited acted as brokers in the transaction. Jared M. Fishman of Sullivan & Cromwell LLP acted as a legal counsel to First Reserve Sustainable Growth Corp.
EO Charging cancelled the acquisition of First Reserve Sustainable Growth Corp. (NasdaqCM:FRSG) from First Reserve Sustainable Growth Sponsor LLC and others in a reverse merger transaction on March 16, 2022. EO Charging and First Reserve have mutually decided to terminate the transaction.