The Firm recently represented Gogoro Inc. (“Gogoro,” Nasdaq: GGR) in the private investment in public equity (PIPE) by Castrol Holdings International Limited (“Castrol”).
On June 24, 2024, Gogoro and Castrol signed a subscription agreement, pursuant to which Gogoro issued 16,887,328 ordinary shares to Castrol for an aggregate purchase price of US$25 million. Concurrently with the share issuance, Gogoro granted Castrol certain put option, information and registration rights. The subscription agreement also contemplates that upon the consummation of certain strategic partnership between Gogoro and Castrol, the parties will enter into a note purchase agreement pursuant to which Gogoro will issue to Castrol a convertible note in the principal amount of US$25 million.
Gogoro is a global technology leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery charging and availability. Castrol is a global leader in lubricants and part of the bp group.
The Simpson Thacher team includes Yi Gao, Yang Wang, Shuting Lu and Haixuan Yang (M&A); and Keng-Wen Lin (Capital Markets).