TPG Pace Beneficial Finance is a special purpose acquisition company formed by TPG for the purpose of entering into a merger, stock purchase or similar business combination with one or more businesses. The company is focused on sponsoring the public listing of a company that combines attractive business fundamentals with, or with the potential for strong environmental, social and governance (“ESG”) principles and practices through a business combination. In October 2020, TPG Pace Beneficial Finance priced an IPO, raising approximately $350 million in addition to $100 million of committed capital raised in a forward private placement.
On December 10, 2020, TPG Pace Beneficial Finance entered into a definitive agreement to acquire the EVBox Group for a combination of cash and equity. EVBox is a leading global provider of smart charging solutions for electric vehicles with Europe’s largest installed base of charging solutions and the most advanced cloud-based software offering.