The US electric bus manufacturer Proterra has announced that its common shares and warrants will start trading today on the Nasdaq Global Select Market under the new ticker symbols “PTRA” and “PTRAW”.
This follows the completion of the company’s previously announced business combination with ArcLight Clean Transition Corp., a purpose-built acquisition company that resulted in Proterra becoming a publicly traded company. To date, the company has raised more than $ 640 million in cash from its business combination with ArcLight to fund growth initiatives focused on vehicle and battery development.
“Today’s milestone is a testament to the hard work of our team and the support of our valued customers, partners and investors,” said Jack Allen, CEO of Proterra, starting this new chapter as a publicly traded EV technology leader. We continue to focus on advancing our EV technology to power the world’s most powerful commercial vehicles and believe this is an important step today in our ability to accelerate these initiatives. “
Proterra currently has manufacturing facilities in California and South Carolina and a research and development laboratory in Silicon Valley. In addition, the company has delivered more than 600 vehicles to date and is therefore well positioned.