STAMFORD, Conn.–(BUSINESS WIRE)–Altus Power, Inc. (NYSE: AMPS) today announced that, at a special meeting of the stockholders held earlier today, Altus Power’s stockholders voted to adopt the previously announced definitive agreement for Altus Power to be acquired by TPG through its TPG Rise Climate Transition Infrastructure strategy, and to approve the transactions contemplated thereby. As previously announced, subject to the terms and conditions of the Merger Agreement, Altus Power stockholders will receive $5.00 in cash, without interest and minus any applicable withholding taxes, for each share of Altus Power Class A common stock owned immediately prior to the effective time of the merger, if completed.
“We thank our stockholders for their strong support of this transaction, which we believe unlocks significant value for our stockholders,” said Gregg Felton, CEO, Altus Power. “We look forward to closing the transaction, and in partnership with TPG, continuing to execute on our growth priorities, ensuring more businesses and communities have access to sustainable power.”
Completion of the transaction is expected to occur on April 16, 2025, subject to the satisfaction of customary closing conditions.
The final voting results of the special meeting will be reported in a Current Report on Form 8-K to be filed by Altus Power with the U.S. Securities and Exchange Commission.
About Altus Power
Altus Power, based in Stamford, Conn., is a leading commercial-scale provider of clean electric power serving commercial, industrial, public sector and Community Solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.
About TPG Rise Climate
TPG Rise Climate is the dedicated climate investing platform of TPG, a leading global alternative asset management firm. With dedicated pools of capital across private equity, transition infrastructure, and the Global South, TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals around the world, the strategic relationships and insights developed across TPG’s broad portfolio of climate companies, and a global network of executives, advisors, and corporate partners. As part of TPG’s $27 billion global impact investing platform, TPG Rise Climate invests broadly across the climate sector, with a focus on building and scaling leading climate solutions across the following thematic areas: clean electrons, clean molecules and materials, and negative emissions.
For more information, please visit www.therisefund.com/tpgriseclimate.
