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Sidley assists Anthelion Capital in purchasing an energy business from Proterra | News

Byeditor

Apr 4, 2024

Sidley played a crucial role in guiding Anthelion Capital Holdings (formerly Cowen Sustainable Investments) through the acquisition of the Energy business unit from Proterra Inc. This unit provided fleet-scale high-power charging solutions and software for commercial-grade electric vehicle fleets. The acquisition took place as part of a Chapter 11 plan of reorganization approved by Judge Brendan L. Shannon on March 6, 2024, in the bankruptcy cases of Proterra in the United States Bankruptcy Court for the District of Delaware. The deal closed on March 13, 2024, with Anthelion Capital’s funds serving as the Plan Sponsor for the confirmed Chapter 11 plan.

Additionally, Sidley advised Anthelion Capital regarding its second-lien loan to Proterra, totaling approximately US$177.2 million. This loan, along with interest, fees, and other amounts owed, was fully repaid in cash under Proterra’s confirmed Chapter 11 plan of reorganization. The Sidley team, led by Thomas R. Califano, Dennis M. Twomey, and Jackson T. Garvey (Restructuring); John H. Butler (M&A and Private Equity); included Elizabeth Shea Fries (Investment Funds); Rachel D. Kleinberg (Tax); Ram Burshtine (Global Finance); George J. Vlahakos (Energy and Infrastructure); John J. Kuster and Jon Muenz (Commercial Litigation and Disputes); Maegan Quejada, Juliana Hoffman, and Amanda Rahie (Restructuring); E. Kyle Barnett (Technology and Life Sciences Transactions); and Joshua J. Rim (M&A and Private Equity).

By editor

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