Pillsbury advised Complete Solar Holding Corporation, a leading U.S. solar technology, services and financing company (“Complete Solar”), in the entry into a definitive agreement to merge with The Solaria Corporation (“Solaria”), forming Complete Solaria, Inc. (“Complete Solaria”).
Together, the combination will form a leading U.S. residential solar company, redefining residential and small business solar with breakthrough technology, financing, product, and service excellence and will establish the combined company as a full system operator, with a compelling customer offering and best-in-class technology, financing, project fulfillment, and services. Following the merger of Complete Solar and Solaria, the combined entity will publicly list on the NYSE through a business combination with Freedom Acquisition I Corp., a publicly traded special purpose acquisition company, or SPAC.
The business combination currently values Complete Solaria’s equity at approximately $888 million, and the business combination is expected to provide the combined company with gross proceeds of up to approximately $376 million, assuming no shareholder redemptions.
The Pillsbury deal team was led by Corporate partner Ted Powers III and included associate Nina Bakhtina and senior law clerk Denis O’Regan, Tax partner Jorge Medina, Energy partner Mona Dajani, Executive Compensation & Benefits partner Cindy Schlaefer, senior associate Kevin Meil and associate Ben Gibbs, Intellectual Property...
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