Chargepoint Holdings Inc Stock Price, News & Analysis

ChargePoint Holdings, Inc. (NYSE:CHPT) has priced its secondary offering of 12,000,000 shares at $23.50 each. The offering involves shares sold by existing stockholders, who will retain all proceeds. An additional 1,800,000 shares may be purchased by underwriters within 30 days. The offering is expected to close around July 19, 2021, pending customary conditions. BofA Securities, Goldman Sachs & Co. LLC, and Oppenheimer & Co. are joint lead managers for the offering.

ChargePoint Holdings (NYSE:CHPT) announced that selling stockholders plan to offer 12 million shares of the Company’s common stock, with an option for underwriters to purchase an additional 1.8 million shares. Proceeds from the sale will go entirely to the selling stockholders. This offering follows a registration statement filed with the SEC and is intended to strengthen the market presence of ChargePoint as a leading EV charging network. Major underwriters include BofA Securities, Goldman Sachs, and Oppenheimer.

ChargePoint Holdings, Inc. (NYSE:CHPT) and Mercedes-Benz USA have announced the launch of Mercedes me Charge, a new EV charging benchmark in North America, starting with the EQS all-electric luxury sedan. This collaboration offers drivers seamless access to charging across ChargePoint and other networks, eliminating the need for multiple accounts. Users can access nearly 120,000 public and semi-public charging locations. The system allows hassle-free payments and automatic billing, enhancing the EV driving experience and supporting the transition to electric mobility.

ChargePoint Holdings (NYSE:CHPT) has unveiled the most comprehensive EV charging solution for fleets, aimed at optimizing fueling for various vehicle types. The portfolio includes ChargePoint Express Plus, a scalable DC fast charging platform with a modular design to ensure uptime and minimize costs. Accompanied by robust fleet management software, the solution enhances operational readiness and charging efficiency across various charging locations. ChargePoint's expert support services further facilitate smooth transitions to electrification for fleet operators.

ChargePoint Holdings, Inc. (NYSE:CHPT) reported a robust first quarter for fiscal 2022, ending April 30, 2021. Revenue reached $40.5 million, a 24% increase from $32.8 million year-over-year, driven by a strong demand across commercial, fleet, and residential sectors. GAAP net income was $82.3 million, up from a $30.1 million loss last year, primarily due to a $53.0 million gain from warrant liabilities. Looking ahead, ChargePoint expects second-quarter revenue between $46 and $51 million and maintains an annual outlook of $195 to $205 million.

ChargePoint Holdings, Inc. (NYSE: CHPT) has appointed Susan Heystee to its Board of Directors, succeeding Neil Suslak, who is stepping down. Heystee brings over 30 years of experience in technology and software, having held senior roles at Verizon Connect and Telogis. ChargePoint's CEO, Pasquale Romano, highlighted her expertise in mobility and diverse industries as a significant asset as the company navigates the expanding electric mobility market. Heystee expressed enthusiasm for the company's future amidst the shift towards electric mobility.

ChargePoint Holdings (NYSE:CHPT), a leader in the electric vehicle charging network, will release its financial results for Q1 ended April 30, 2021, after market close on June 3, 2021. The company will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results. Interested parties can access a live webcast via the ‘Events and Presentations’ section of ChargePoint’s investor relations website. A replay will be available shortly after the call. ChargePoint has established one of the largest EV charging networks and aims to facilitate the transition to electric mobility.

ChargePoint (NYSE:CHPT) has integrated its app with Android Auto, making EV charging easier for drivers. By connecting their Android phone to a compatible vehicle, users can access essential charging features through their infotainment system. Key functionalities include mapping nearby stations, checking station status, and beginning charging sessions. This initiative reflects ChargePoint's ongoing commitment to enhancing driver experiences and accelerating the transition to electric mobility, backed by over 90 million charging sessions since 2007.

ChargePoint (NYSE:CHPT) and NATSO report progress in the National Highway Charging Collaborative, aiming to deploy charging stations at over 4,000 travel plazas nationwide by 2030. The initiative is backed by $1 billion in public and private funding, successfully funding 150 DC fast charging spots in its first year. Bloomberg NEF projects EVs will comprise 29% of vehicle sales by 2030. The Collaborative connects rural communities in eight states, expanding charging infrastructure along essential corridors to mitigate range anxiety for EV drivers.