First Reserve Sustainable Growth Corp. announced the redemption of all outstanding shares of its Class A common stock effective March 10, 2023. The decision follows the company's failure to complete an initial business combination by the required deadline of March 9, 2023. Shareholders will receive approximately $10.16 per share, with redemption actions expected to cease trading by March 8, 2023. Post-redemption, the company plans to wind down operations and seek to dissolve after fulfilling creditor obligations. NASDAQ will file a Form 25 to delist the securities, followed by Form 15 to terminate their registration under the Securities Exchange Act of 1934.
EO Charging has launched a dedicated eBus division and software platform to enhance the electrification of public transport, aiming to meet clean air targets. The new software integrates with any OCPP-compliant charge point, facilitating fleet management for electric buses. Keith Watson, formerly of Alexander Dennis Limited, has been appointed to lead the eBus division. EO is working toward becoming a global leader in charging electric fleets and has a planned business combination with First Reserve Sustainable Growth Corp (NASDAQ: FRSG), advancing its public listing ambitions.
First Reserve Sustainable Growth Corp. announced that starting April 26, 2021, holders of the units from its initial public offering can separately trade shares of Class A common stock and warrants. The Class A common stock will trade under the ticker symbol FRSG, and the warrants under FRSGW on Nasdaq. Units not separated will continue to trade as FRSGU. Investors need to contact Continental Stock Transfer & Trust Company to facilitate this separation process. The Company is focused on sustainability and plans to engage in business combinations enhancing environmentally conscious solutions.