Electric-bus maker Proterra to go public via blank-check company merger

Electric-bus maker Proterra Inc. said Tuesday it will go public through a deal with ArcLight Clean Transition Corp. ACTC, +71.94%, a special purpose acquisition company. Proterra’s stock is expected to trade on the Nasdaq under the ticker symbol PTRA. The transaction values Proterra at $1.6 billion, and it is expected to close in the first half of 2021, the company said. Proterra has plants in California and South Carolina and in addition to electric buses the company makes batteries, electric charging systems and other products geared to commercial electric vehicles.

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