Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Tritium Holdings Pty Ltd (Tritium) on its entry into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (DCRN), a US special purpose acquisition company (SPAC). The transaction represents the first announced merger between an Australian company and a US SPAC.
The transaction is expected to provide Tritium, a developer and manufacturer of direct current fast chargers for electric vehicles, with additional capital to expand their manufacturing capabilities across North America, Europe and Australia and offer the support they need to achieve their product roadmap, enhance their existing products and grow their global sales and service operations teams. On closing, the combined company is expected to list on the NASDAQ under the ticker ‘DCFC’.
Corrs drew on expertise across the firm with partners Alexandra Feros, Jeremy Horwood and Shabarika Ajitkumar (Corporate/M&A and Capital Markets), Helen Clarke (Technology and IP), Clare Corke (Finance), Anna White (Environment), Abigail Gill and Frances Wheelahan (Regulatory Compliance) advising Tritium on all Australian aspects of the transaction and working in a coordinated manner with Latham & Watkins LLP as the US legal advisers to Tritium.
Commenting on the matter, lead partner Alexandra Feros said: “Corrs is delighted to have worked with Tritium on its merger agreement with DCRN and anticipated listing on the NASDAQ. This is the first announced merger of an Australian company with a US SPAC and it is hugely exciting to be involved in such an innovative and market-leading transaction.”
Tritium’s Chief Revenue Officer and Head of Corporate Development David Toomey said: “It was great to work with Alexandra and the team on the deal. Alexandra has a long history advising Tritium and its largest shareholder, St Baker Energy Innovation Fund, in the past through different phases of growth, so it was good to achieve such a milestone together. The Corrs team worked with the dedication and relentless execution we needed.”
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