Altus Power, Inc. announced that, at a special meeting of the stockholders held earlier, Altus Power’s stockholders voted to adopt the previously announced definitive agreement for Altus Power to be acquired by TPG through its TPG Rise Climate Transition Infrastructure strategy (the “Merger Agreement”), and to approve the transactions contemplated thereby. As previously announced, subject to the terms and conditions of the Merger Agreement, Altus Power stockholders will receive $5.00 in cash, without interest and minus any applicable withholding taxes, for each share of Altus Power Class A common stock owned immediately prior to the effective time of the merger, if completed.
“We thank our stockholders for their strong support of this transaction, which we believe unlocks significant value for our stockholders,” said Gregg Felton, CEO, Altus Power. “We look forward to closing the transaction, and in partnership with TPG, continuing to execute on our growth priorities, ensuring more businesses and communities have access to sustainable power.”
Completion of the transaction is expected to occur on April 16, 2025, subject to the satisfaction of customary closing conditions.
The final voting results of the special meeting will be reported in a Current Report on Form 8-K to be filed by Altus Power with the U.S. Securities and Exchange Commission.
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