Shearman & Sterling advised Volta, an industry-leading electric vehicle charging and media company, in an agreement to be acquired by Shell USA, a subsidiary of Shell in an all-cash transaction valued at approximately $169 million. Under the terms of the merger agreement, Shell USA will acquire all outstanding shares of Class A common stock of Volta at $0.86 per share in cash upon completion of the merger.

As part of the agreement, an affiliate of Shell will provide subordinated secured term loans to Volta to bridge Volta through the closing of the transaction.

The deal was announced on Jan. 18, 2023 in a press release.

The Team