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ChargePoint Reports Upcoming Issuance of Nine Million Earnout Shares


Campbell, Calif. – June 29, 2021 – ChargePoint Holdings, Inc. (NYSE:CHPT) (the “Company” or “ChargePoint”), a leading electric vehicle (EV) charging network, today announced that a total of 9,000,000 shares of its Common Stock will be released to eligible former equityholders of ChargePoint, Inc. pursuant to the earnout shares provisions of the Business Combination Agreement between the Company (previously named Switchback Energy Acquisition Corporation), ChargePoint, Inc. and Lightning Merger Sub Inc. dated September 23, 2020 (the “Business Combination Agreement”), as the third and final Triggering Event (as defined in the Business Combination Agreement) has been met.   The Triggering Event was met by virtue of the volume-weighted average closing sale price of Company Common Stock having been greater than or equal to $30.00 for ten (10) trading days out of twenty (20) consecutive trading days during the five-year period following the closing of the business combination.  The holders of ChargePoint, Inc. stock (other than restricted stock), warrants and vested options as of the closing of the business combination will receive their pro rata portion of the earnout shares.  These earnout shares are not subject to a lock-up agreement and may be sold publicly following receipt.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 92 million charging sessions have been delivered, with drivers plugging into the ChargePoint network every two seconds or less. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact ChargePoint’s North American or European press offices or Investor Relations.



Investor Relations

Patrick Hamer

VP, Capital Markets and Investor Relations


Olivia Marcinka

Communications Specialist

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