ChargePoint, an electric vehicle charging network, entered a new credit agreement that provides for a $150 million revolving credit facility led by JPMorgan 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. The credit facility is currently undrawn.
“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,” Rex Jackson, CFO of ChargePoint, said. “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.”
