a leading electric vehicle (EV) charging network, today announced a new credit agreement that provides for a $150 million revolving credit facility led by J.P. Morgan Chase Bank as Administrative Agent and Joint Lead Arranger, HSBC Innovation Banking as Joint Lead Arranger, and both Citi and Goldman Sachs as Documentation Agents.
“This $150 million credit facility with four global banking partners strengthens our ability to grow with our market opportunities and is consistent with our corporate financing strategy,” said Rex Jackson, CFO of ChargePoint. “This facility reinforces ChargePoint’s strong standing with capital sources, and our dedication to maintaining a solid balance sheet while we pursue our stated goals of generating positive adjusted EBITDA and positive cash flow by the end of calendar 2024.”
The credit facility is currently undrawn. Additional information regarding this announcement may be found in a Current Report on Form 8-K that ChargePoint intends to file today with the Securities and Exchange Commission.
