Scott McNeill and Jim Mutrie of SwitchBack Energy Acquisition Corporation
IPO Edge hosted fireside chat with SwitchBack Energy Acquisition Corporation (NYSE: SBE) on Thursday, February 18 at 11:30 EST to discuss the pending merger with ChargePoint, Inc. The live event featured Scott McNeill, Director, Chief Executive Officer and Chief Financial Officer and Jim Mutrie Director, Chief Commercial Officer, General Counsel and Secretary of SwitchBack. IPO Edge Editor-in-Chief John Jannarone moderated the video session, which ran approximately 35 minutes including a Q&A with the audience.
Switchback shares have quadrupled to nearly $40 since September when the SPAC announced a deal to merge with ChargePoint, a leading electric vehicle (EV) charging network. The deal is also anchored by a large PIPE investment from institutions including Baillie Gifford and Neuberger Berman, indicating the total cash requirement is almost certainly satisfied.
However, SwitchBack still needs to achieve a quorum of a majority of shares voted in order for the deal to close. As of Thursday last week, proxies had been submitted for only approximately 45% of outstanding shares, which led SwitchBack to adjourn the meeting until February 25. Any investor who held shares on December 16 can still vote, even if the shares have since been sold, and SwitchBack has encouraged shareholders to vote to prevent any further delays. For additional information regarding voting your shares see https://switchback-energy.com/vote/
Mr. McNeill and Mr. Mutrie will discussed:
- Progress towards quorum since the meeting was adjourned
- An overview of the merger with ChargePoint and investment highlights
- The strong reception to the deal as measured in various ways
- The recent evolution of the SPAC market and involvement of more individual investors
- Why it is important for all shareholders to vote, regardless of how much stock they own
- How investors vote shares through their brokers
Scott McNeill Director, Chief Executive Officer and Chief Financial Officer, SwitchBack Energy Acquisition Corp.
- Co-founded and currently serves as the CEO, CFO and Director of Switchback I
- Co-founded and currently serves as the Co-CEO and Director of Switchback II
- CFO of RSP Permian from April 2013 through the completion of its acquisition by Concho in July 2018
- Helped build RSP during its early growth phase while positioning it for its IPO, overseeing the execution of ~$7 billion of financings and ~$13 billion in M&A transactions at RSP
- Served as Managing Director in the energy investment banking group of Raymond James Financial, Inc., advising companies in M&A and capital markets transactions
Jim Mutrie Director, Chief Commercial Officer, General Counsel and Secretary, SwitchBack Energy Acquisition Corp.
- Co-founded and currently serves as Chief Commercial Officer, General Counsel, Secretary and Director of Switchback I
- Co-founded and currently serves as the Co-CEO and Director of Switchback II
- Vice President, General Counsel, and Corporate Secretary of RSP from June 2014 through the completion of its acquisition by Concho in July 2018
- Led the negotiation and execution of ~$6 billion of financings and ~$13 billion in M&A transactions, and oversaw Legal, Information Technology, Health and Safety, Human Resources and Government Affairs at RSP
- Served as General Counsel and Compliance Officer at United Surgical Partners International
- Practiced corporate law at Vinson & Elkins L.L.P. from 2003 to 2007
Contact:
John Jannarone, Editor-in-Chief
Twitter: @ipoedge
