Star Peak Energy Transition Corp. Reaffirms Timing of Special Meeting to Approve Business Combination
Star Peak Energy Transition Corp. (NYSE:STPK), a publicly traded special purpose acquisition company (“Star Peak”), announced today that it is reaffirming its previously announced Special Meeting of Star Peak Stockholders (the “Special Meeting”) on April 27, 2021 to approve the business combination with Stem, Inc. (“Stem”). If the proposals at the Special Meeting are approved, Star Peak anticipates that the business combination will close shortly thereafter, subject to the satisfaction or waiver (as applicable) of all other closing conditions. Star Peak is currently evaluating the impact of the statement (the “Statement”) released by the Staff of the U.S. Securities and Exchange Commission (the “SEC”) on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies, including whether the changes in accounting treatment described in the Statement will require a restatement of Star Peak’s previously issued financial statements. Star Peak intends to provide a market update in due course in the event that it determines a restatement is necessary, and does not anticipate any changes to the previously disclosed timeline for completing its business combination with Stem.
The Special Meeting to approve the pending business combination is scheduled for Tuesday, April 27, 2021, at 11:00 a.m. ET. The Special Meeting will be completely virtual and conducted via live webcast. Holders of Star Peak’s shares of Common Stock at the close of business on the record date of March 4, 2021 are entitled to notice of the virtual Special Meeting and should vote before 11:59 p.m. ET on April 26, 2021.
Star Peak stockholders can exercise their votes online, via telephone or by mail. More information on how to vote can be found at https://stpk.starpeakcorp.com/vote. Star Peak stockholders who need assistance voting or have questions regarding the Special Meeting may contact Star Peak’s proxy solicitor, Morrow Sodali, toll-free at (877) 787-9239 or email Morrow Sodali at STPK.email@example.com.
About Stem, Inc.
Stem provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter.
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