EV Charging Firm Volta Is Going Public But Raising Less Money Than Expected

Electric-vehicle charging firm Volta Industries is set to debut on the New York Stock Exchange Friday, after closing a merger with a special purpose acquisition company, or SPAC, on Thursday. It’s raising less money than originally planned and entering a crowded-but-fast-growing market.

Tortoise Acquisition Corporation II (ticker: SNPR) agreed to merge with privately held Volta back in February, a deal approved by shareholders on Wednesday. The SPAC shares’ ticker symbol changes to “VLTA” on Friday.