TAIPEI, Taiwan, Jan. 18, 2022 /PRNewswire/ -- Gogoro®
Inc. ("Gogoro" or the "Company"), a
global technology leader in battery swapping ecosystems that enable
sustainable mobility solutions for cities, and Poema Global
Holdings Corp. (Nasdaq: PPGH; "Poema Global"), a publicly traded
special purpose acquisition company, today announced its strategic
partner, Hero MotoCorp, Engine No. 1 and another investor will
be making a PIPE investment, raising the oversubscribed PIPE from
$257 million to $285 million.
"We are proud to be adding PIPE investors Hero
MotoCorp, a global leader in two-wheel vehicles and Engine No. 1, a
strategic investment group focused on creating long-term value by
harnessing the power of capitalism to drive greater ESG thinking,"
said Horace Luke, founder, chairman,
and chief executive officer of Gogoro. "Gogoro is
transforming urban mobility in the world's most
densely populated cities by changing how people use and share
portable energy and we are well positioned to transform the urban
mobility landscape and capitalize on the electric transition of
more than a half billion two-wheel vehicles in Asia."
The existing PIPE is funded by a variety of investors including
strategic partners Hon Hai (Foxconn)
Technology Group and GoTo Group, the largest technology group in
Indonesia, Gogoro vehicle
partners, and new and existing financial investors including
Generation Investment Management, Temasek as well as
Gogoro's founding investor, Dr. Samuel Yin of Ruentex Group.
"Our investment in Gogoro's PIPE is in keeping with our vision –
'Be the Future of Mobility'. We are already partnering with Gogoro
to bring modern electric vehicles and its battery swapping network
to India and other global
markets," said Dr. Pawan Munjal,
Chairman & Chief Executive Officer, Hero MotoCorp. "At Hero
MotoCorp, we remain fully committed to sustainability and playing a
key role in bringing clean mobility across the world."
"Gogoro's innovative products provide solutions that are
critical to helping countries decarbonize their transportation
sectors. Our investment will further Gogoro's mission to
revolutionize the way that we use and share energy," said
Edward Sun, Portfolio Manager at
Engine No. 1. "We look forward to working closely alongside the
Gogoro team as they continue to expand globally."
"Gogoro is excited to add Hero MotoCorp and Engine No. 1 to its
PIPE. This additional funding, in addition to our recent F-4
filing, keeps us on track for closing in Q1. Additionally, beating
our 2021 revenue target means we are executing to our plans and
expectations," said Bruce Aitken,
chief financial officer, Gogoro Inc. "We have three investor groups
in our PIPE. Existing investors who wanted to continue to support
our vision, new strategic investors who can help us scale and new
institutional investors. Adding Hero MotoCorp and Engine No.
1 continues to validate our strategy and plans. Hero MotoCorp is a
key OEM and expansion partner and Engine No. 1 will provide
strategic guidance on how environmental impact can drive economic
value."
Gogoro's battery swapping ecosystem is an established leading
solution for electric refueling of lightweight urban vehicles. In
less than five years, the Company has accumulated over $1 billion in revenue and 450,000+ battery swap
subscribers.
The combined company will focus on accelerating the global
expansion of Gogoro's unique and proven
subscription-based battery swapping service along with its electric
vehicle and component sales business. Upon the transaction closing,
the combined company will be named Gogoro Inc. and will be listed
on the Nasdaq under the ticker symbol "GGR" and
"GGRW."
About Hero Motocorp
The New Delhi (India) headquartered Hero MotoCorp Ltd. is the
world's largest manufacturer of motorcycles and
scooters, in terms of unit volumes sold by a single company in a
year — the coveted position it has held for the past 20 consecutive
years. The Company has sold over 100 million motorcycles and
scooters in cumulative sales since inception. Hero MotoCorp
currently sells its products in more than 40 countries across
Asia, Africa, Middle
East, and South and Central
America. Hero MotoCorp has eight state-of-the-art
manufacturing facilities, including six in India, and one each in Colombia and Bangladesh. Hero MotoCorp has two world-class,
state-of-the-art R&D facilities — the Centre of Innovation and
Technology (CIT) in the northern Indian state of Rajasthan, and
Hero Tech Centre Germany GmBH. Hero MotoCorp is one of the largest
corporate promoters of multiple disciplines of sports, including,
Golf, Football, Field Hockey, Cricket and Motorsports. Fifteen-time
major winner Tiger Woods is Hero's Global Corporate
Partner. For more information, please visit:
www.heromotocorp.com | FB: HeroMotoCorpIndia |
Twitter: HeroMotoCorp | IG: HeroMotoCorp
ABOUT ENGINE NO. 1
Engine No. 1 is an investment firm purpose-built to create
long-term value by driving positive impact through active
ownership. The firm also will invest in public and private
companies through multiple strategies. For more information, please
visit: www.Engine1.com.
ABOUT POEMA GLOBAL HOLDINGS CORP.
Poema Global Holdings Corp. is a special purpose acquisition
company affiliated with Princeville Capital formed for the purpose
of entering into a combination with one or more businesses. Poema
Global's sponsor team brings together over 100 years of combined
experience to equip and enable a differentiated global technology
leader to successfully list and to create long-term value for
shareholders in public markets. Led by
Co-Chairmen Emmanuel DeSousa and Joaquin Rodriguez
Torres, Chief Executive Officer Homer Sun and
President Marc Chan, Poema Global seeks to complete business
combinations with companies that have validated technologies and
attractive unit economics, with a particular focus on Asia and
Europe. For more information,
visit https://www.poema-global.com/.
ABOUT GOGORO
Founded in 2011 to rethink urban energy and inspire the world to
move through cities in smarter and more sustainable ways, Gogoro
leverages the power of innovation to change the way urban energy is
distributed and consumed. Gogoro's battery swapping and vehicle
platforms offer a smart, proven and sustainable long-term ecosystem
for delivering a new approach to urban mobility. Gogoro has quickly
become an innovation leader in vehicle design and electric
propulsion, smart battery design, battery swapping, and advanced
cloud services that utilize artificial intelligence to manage
battery availability and safety. The challenge is massive, but the
opportunity to disrupt the status quo, establish new standards, and
achieve new levels of sustainable transportation growth in densely
populated cities is even greater. For more information,
visit www.gogoro.com/news and follow Gogoro on Twitter:
@wearegogoro.
Forward Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the U.S. Securities Act of 1933, as
amended, or the Securities Act, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended ("Exchange Act") that
are based on beliefs and assumptions and on information currently
available to Poema Global Holdings Corp. ("Poema Global") and
Gogoro Inc. ("Gogoro"). In some cases, you can identify
forward-looking statements by the following words: "may," "will,"
"could," "would," "should," "expect," "intend," "plan,"
"anticipate," "believe," "estimate," "predict," "project,"
"potential," "continue," "ongoing," "target," "seek" or the
negative or plural of these words, or other similar expressions
that are predictions or indicate future events or prospects,
although not all forward-looking statements contain these words.
Any statements that refer to expectations, projections or other
characterizations of future events or circumstances, including
financial projections, projections of market opportunity and market
share , the ability of Gogoro's business model to be successful in
the future, future products, the capability of Gogoro's technology,
Gogoro's business plans including its plans to expand globally, any
benefits of Gogoro's partnerships, and expectations related to the
terms and the timing of the proposed transaction between Gogoro and
Poema Global, are also forward-looking statements. These statements
involve risks, uncertainties and other factors that may cause
actual results, levels of activity, performance or achievements to
be materially different from those expressed or implied by these
forward-looking statements. Although each of Poema Global and
Gogoro believes that it has a reasonable basis for each
forward-looking statement contained in this communication, each of
Poema Global and Gogoro caution you that these statements are based
on a combination of facts and factors currently known and
projections of the future, which are inherently uncertain. In
addition, there are risks and uncertainties described in the proxy
statement/prospectus on Form F-4 relating to the proposed
transaction, initially filed by Gogoro with the SEC on November 18, 2021, as amended, and other
documents filed, or to be filed, by Gogoro or Poema Global from
time to time with the SEC. These filings may identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Neither Poema Global nor Gogoro can
assure you that the forward-looking statements in this
communication will prove to be accurate. These forward-looking
statements are subject to a number of risks and uncertainties,
including, among others, that Gogoro is in the process of
completing its audited financial statements for 2021, the ability
to complete the business combination due to the failure to obtain
approval from Poema Global's shareholders or satisfy other closing
conditions in the merger agreement, the occurrence of any event
that could give rise to the termination of the merger agreement,
the ability to recognize the anticipated benefits of the business
combination, the amount of redemption requests made by Poema
Global's public shareholders, costs related to the transaction, the
impact of the global COVID-19 pandemic, the risk that the
transaction disrupts current plans and operations as a result of
the announcement and consummation of the transaction, the outcome
of any potential litigation, government or regulatory proceedings
and other risks and uncertainties, including those included under
the heading "Risk Factors" in the registration statement on Form
F-4, as amended, and those included under the heading "Risk
Factors" in the annual report on Form 10-K for year ended
December 31, 2020 of Poema Global and
in its subsequent quarterly reports on Form 10-Q and other filings
with the SEC. There may be additional risks that neither Poema
Global nor Gogoro presently know or that Poema Global and Gogoro
currently believe are immaterial that could also cause actual
results to differ from those contained in the forward looking
statements. In light of the significant uncertainties in these
forward-looking statements, you should not regard these statements
as a representation or warranty by Poema Global, Gogoro, their
respective directors, officers or employees or any other person
that Poema Global and Gogoro will achieve their objectives and
plans in any specified time frame, or at all. The forward-looking
statements in this communication represent the views of Poema
Global and Gogoro as of the date of this communication. Subsequent
events and developments may cause those views to change. However,
while Poema Global and Gogoro may update these forward-looking
statements in the future, there is no current intention to do so,
except to the extent required by applicable law. You should,
therefore, not rely on these forward-looking statements as
representing the views of Poema Global or Gogoro as of any date
subsequent to the date of this communication.
Important Additional Information Regarding the Transaction
and Where to Find It
In connection with the proposed transaction, Gogoro has filed a
registration statement on Form F-4 with the SEC, which includes a
preliminary prospectus with respect to Gogoro's securities to be
issued in connection with the proposed transaction and a
preliminary proxy statement with respect to the shareholder meeting
of Poema Global to vote on the proposed transaction. Shareholders
of Poema Global and other interested persons are encouraged to read
the preliminary proxy statement/prospectus, as amended, and, when
available, the definitive proxy statement/prospectus, as well as
other documents filed, or to be filed, with the SEC, because these
documents contain, or will contain, important information about
Poema Global, Gogoro and the proposed transaction. After the
registration statement is declared effective, the definitive proxy
statement/prospectus will be mailed to shareholders of Poema Global
as of a record date to be established for voting on the proposed
transaction. Once available, shareholders of Poema Global will also
be able to obtain a copy of the Form F-4, including the proxy
statement/prospectus, and other documents filed with the SEC
without charge, by directing a request to: 101 Natoma St., 2F,
San Francisco, CA 94105. The
preliminary proxy statement/prospectus and, when available, the
definitive proxy statement/prospectus can also be obtained, without
charge, at the SEC's website (www.sec.gov).
Participants in the Solicitation
Poema Global and Gogoro and their respective directors and
executive officers may be considered participants in the
solicitation of proxies with respect to the potential transaction
described in this communication under the rules of the SEC.
Information about the directors and executive officers of Poema
Global and their ownership is set forth in Poema Global's filings
with the SEC, including its Form 10-K for the year ended
December 31, 2020 and subsequent
filings under Section 16 of the Exchange Act or on Form 10-Q.
Additional information regarding the persons who may, under the
rules of the SEC, be deemed participants in the solicitation of
Poema Global's shareholders in connection with the potential
transaction are set forth in the registration statement containing
the preliminary proxy statement/prospectus filed with the SEC, as
amended, and when available, will be set forth in the definitive
proxy statement/prospectus. These documents are available free of
charge at the SEC's website at www.sec.gov or by directing a
request to: 101 Natoma St., 2F, San
Francisco, CA 94105.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the potential transaction and does not constitute an
offer to sell or a solicitation of an offer to buy any securities
of Poema Global or Gogoro, nor shall there be any sale of any such
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of the Securities Act.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/gogoro-and-poema-global-announce-additional-pipe-investment-from-hero-motocorp-and-engine-no-1-301462384.html
SOURCE Gogoro
