Star Peak Reaffirms Timing of Special Meeting to Approve Business Combination

Source: www.gulfoilandgas.com 4/15/2021, Location: North America

Star Peak Energy Transition Corp., a publicly traded special purpose acquisition company (“Star Peak”), announced 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.


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