California-based Proterra, a commercial vehicle electrification company with an engineering and manufacturing facility in Greenville, has gone public.
The company announced its debut on the NASDAQ Global Select Market under the tickers “PTRA” (Common) and “PTRAW,” (Warrants) starting Wednesday, June 16.
PTRA shares opened at $17.45; Warrants (PTRAW) opened at $5.90.
“Today’s milestone is a testament to the hard work of our team and the support of our valued customers, partners and investors,” said CEO Jack Allen. “We are excited to build on the strong foundation we have created over the past decade and begin this new chapter as a publicly-traded EV technology leader.”
— Proterra (@Proterra_Inc) June 16, 2021
Proterra researches, develops, designs and installs electrification systems for delivery vehicles, construction equipment, school buses, coach buses and more, according to the company’s site.
Only financially-liquid companies with strong corporate governance qualify to trade on Global Select Market, according to industry analysts.