All owners of STPK Common Stock as of March 4,
2021 are encouraged to vote their shares before April 26, 2021
Star Peak Energy Transition Corp. (NYSE: STPK), a publicly
traded special purpose acquisition company (“Star Peak”), and Stem,
Inc., a global leader in artificial intelligence (AI)-driven clean
energy storage systems (“Stem”), today announced that Star Peak’s
registration statement on Form S-4 (File No. 333-251397), relating
to the previously announced merger of Star Peak and Stem, has been
declared effective by the U.S. Securities and Exchange Commission.
Star Peak will mail Stockholders as of March 4, 2021 the definitive
proxy statement/consent solicitation/prospectus relating to the
Special Meeting of Star Peak Stockholders (the “Special
Meeting”).
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the full release here:
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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.
If the proposals at the Special Meeting are approved, the
parties anticipate that the business combination will close shortly
thereafter, subject to the satisfaction or waiver (as applicable)
of all other closing conditions.
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.info@investor.morrowsodali.com.
About Stem
Stem provides solutions that address the challenges of today’s
dynamic energy market. By combining advanced energy storage
solutions with Athena™, a world-class artificial intelligence
(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.
Headquartered in Millbrae, Calif., Stem is directly funded by a
consortium of leading investors including Activate Capital,
Angeleno Group, BNP Paribas, Constellation Technology Ventures,
Copec, Iberdrola (Inversiones Financieras Perseo), GE Ventures,
Magnesium Capital, Mithril Capital Management, Mitsui & Co.
LTD., Ontario Teachers’ Pension Plan, RWE Supply & Trading,
Temasek and Total Energy Ventures. For more information, visit
www.stem.com.
About Star Peak Energy Transition Corp.
Star Peak is a blank check company incorporated in Delaware for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. Star Peak is led by a
management team with extensive experience investing in the energy,
energy infrastructure and renewables sectors, including Chairman,
Michael Morgan and Chief Executive Officer, Eric Scheyer. Michael
Morgan is Chairman and Chief Executive Officer at Triangle Peak
Partners LP and currently serves as a director of Sunnova Energy
International (NYSE: NOVA) and lead director of Kinder Morgan, Inc.
(NYSE: KMI), one of the largest energy infrastructure companies in
North America, a company he joined at its founding in 1997. Eric
Scheyer is a Partner at Magnetar and has served as the Head of the
Magnetar Energy and Infrastructure Group since its inception in
2005. For more information, visit
https://stpk.starpeakcorp.com/.
Additional Information
This communication is being made in respect of a proposed merger
transaction (the “proposed transactions”) involving Star Peak and
Stem. The proposed transactions will be submitted to stockholders
of Star Peak for their consideration and approval at a special
meeting of stockholders. In connection with the proposed
transactions, Star Peak has filed a Registration Statement on Form
S-4 (the “Registration Statement”) with the Securities and Exchange
Commission (“SEC”), which will include a definitive proxy statement
/ prospectus / written consent solicitation to be distributed to
Star Peak stockholders in connection with Star Peak’s solicitation
for proxies for the vote by Star Peak’s stockholders in connection
with the proposed transactions and other matters as described in
such Registration Statement, as well as the prospectus relating to
the offer of the securities. Star Peak will mail a definitive proxy
statement / prospectus / written consent solicitation and other
relevant documents to its stockholders as of the record date
established for voting on the proposed transactions. Investors and
security holders of Star Peak are advised to read the definitive
proxy statement / prospectus / written consent solicitation in
connection with Star Peak’s solicitation of proxies for its special
meeting of stockholders to be held to approve the proposed
transaction because the proxy statement / prospectus / written
consent solicitation contains important information about the
proposed transaction and the parties to the proposed transaction.
Stockholders may also obtain copies of the definitive proxy
statement / prospectus / written consent solicitation, without
charge at the SEC’s website at www.sec.gov or by directing a
request to: Star Peak Energy Transition Corp., 1603 Orrington Ave.,
13 Floor Evanston, IL 60201.
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act.
Participants in the Solicitation
Star Peak and Stem and their respective directors, executive
officers, other members of management, and employees, under SEC
rules, may be deemed to be participants in the solicitation of
proxies of Star Peak’s stockholders in connection with the proposed
transaction. Information regarding the persons who may, under SEC
rules, be deemed participants in the solicitation of Star Peak s
stockholders in connection with the proposed business combination
is set forth in Star Peak’s registration statement / proxy
statement that has been filed with the SEC. Investors and security
holders may obtain more detailed information regarding the names
and interests in the proposed transaction of Star Peak’s directors
and officers in Star Peak’s filings with the SEC, and such
information is also in the Registration Statement that has been
filed with the SEC by Star Peak, which will include the definitive
proxy statement / prospectus / written consent solicitation of Star
Peak for the proposed transaction.
Forward-Looking Statements
Certain statements in this communication may be considered
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
relate to future events of Star Peak or Stem’s future financial or
operating performance. For example, projections of future revenue
and other metrics are forward-looking statements. In some cases,
you can identify forward-looking statements by terminology such as
“may,” “should,” “expect,” “intend,” “will,” “estimate,”
“anticipate,” “believe,” “predict,” “or“ or the negatives of these
terms or variations of them or similar terminology. Such
forward-looking statements are subject to risks, uncertainties, and
other factors which could cause actual results to differ materially
from those expressed or implied by such forward-looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Star Peak and its
management, and Stem and its management, as the case may be, are
inherently uncertain factors that may cause actual results to
differ materially from current expectations include, but are not
limited to: 1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the
definitive merger agreement with respect to the business
combination; 2) the outcome of any legal proceedings that may be
instituted against Star Peak, the combined company or others
following the announcement of the business combination and any
definitive agreements with respect thereto; 3) the inability to
complete the business combination due to the failure to obtain
approval of the stockholders of Star Peak, to obtain financing to
complete the business combination or to satisfy other conditions to
closing; 4) changes to the proposed structure of the business
combination that may be required or appropriate as a result of
applicable laws or regulations or as a condition to obtaining
regulatory approval of the business combination; 5) the ability to
meet the New York Stock Exchange’s listing standards following the
consummation of the business combination; 6) the risk that the
business combination disrupts current plans and operations of Stem
as a result of the announcement and consummation of the business
combination; 7) the ability to recognize the anticipated benefits
of the business combination, which may be affected by, among other
things, competition, the ability of the combined company to grow
and manage growth profitably, maintain relationships with customers
and suppliers and retain its management and key employees; 8) costs
related to the business combination; 9) changes in applicable laws
or regulations; 10) the possibility that Stem or the combined
company may be adversely affected by other economic, business
and/or competitive factors; 11) Stem’s estimates of its financial
performance; 12) the impact of the novel coronavirus disease
pandemic and its effect on business and financial conditions; and
13) other risks and uncertainties set forth in the section entitled
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in Star Peak’s Annual Report on Form 10-K for the year
ended December 31, 2020. Nothing in this communication should be
regarded as a representation by any person that the forward-looking
statements set forth herein will be achieved or that any of the
contemplated results of such forward looking statements will be
achieved. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. Neither
Star Peak nor Stem undertakes any duty to update these
forward-looking statements, except as otherwise required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210329005766/en/
Investor Contact – Stem Ted Durbin, Stem, Inc. Marc
Silverberg, ICR, Inc. IR@stem.com
Media Contact – Stem Cory Ziskind, ICR, Inc.
stemPR@icrinc.com
Star Peak Tricia Quinn Courtney Kozel
info@starpeakcorp.com 847 905 4400
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