On December 4, 2020, the Company announced that it had entered into a definitive agreement for the Merger with Legacy Stem, a purported global leader in AI-driven clean energy storage systems, that would result in a combined company with an estimated equity value of approximately $1.35 billion. Prior to the Merger, the Company operated as a publicly traded special purpose acquisition company. The Company's management has asserted that Stem's services revenue line is purportedly comprised entirely of software revenue. The Company offers energy storage systems sourced from original equipment manufacturers and provides an artificial intelligence ("AI") platform called Athena, which offers battery hardware and software-enabled services to operate the energy storage systems. Stem purports to operate as a digitally connected and intelligent energy storage network provider in the U.S. ÄŻaruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia. 1310). You may also click here for additional information. and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 87 or 21 (Ext. ("Merger Sub"), and Stem, Inc., a private Delaware corporation ("Legacy Stem") and/or (b) between Maand February 16, 2023, both dates inclusive (the "Class Period"). If you suffered losses exceeding $100,000 investing in Stem stock or options (a) pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the merger ("Merger") consummated on Apby and among the Company, STPK Merger Sub Corp.
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