Switchback Energy Acquisition SBE SPAC Stock News

Switchback Energy Acquisition SBE SPAC Stock

SBE/U 1 common 1/3W $10.66

SBE $10.33

SBEW $1.1 ( already up 10% today )

$300M In the Murse

$9.20 Cresent

24 Month

Citi Group and Goldman – Underwriters

Switchback Energy Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. We are sponsored by NGP Switchback, LLC, which is owned by a private investment fund advised by NGP Energy Capital Management, L.L.C. (“NGP”) and former RSP Permian, Inc. executives Scott McNeill, Jim Mutrie and Josh Rosinski. We intend to focus our search for a target business in the energy industry in North America.

NGP has considerable experience investing in the energy industry. Since NGP’s founding in 1988, private investment funds advised by NGP have raised approximately $20.0 billion of capital commitments from investors and invested in more than 215 portfolio companies across 12 private funds. NGP has experience investing across a variety of commodity price cycles and a track record of identifying high-quality assets, businesses and management teams with significant resources, capital and optimization potential. We believe that we will benefit from NGP’s prior experience in the public capital markets and from NGP’s exclusive focus on energy and energy-related investing. NGP has successfully taken 11 of its portfolio companies public since 2014 and invested in over 375 energy transactions since 1988.

NGP’s last back deal VEAC Vantage Energy FAILED and decided to liquidate.

Scott Gieselman whos is on the board for this SPAC was the director of Vantage Energy

Target:

We intend to identify and acquire a business in the energy sector. Even fundamentally sound companies can often under-perform their potential due to underinvestmen.

Management Team


Scott McNeill Director, Chief Executive Officer and Chief Financial Officer

Mr. McNeill served as Chief Financial Officer of RSP Permian, Inc. (NYSE: RSPP) (“RSP”) from April 2013 through the completion of its acquisition by Concho Resources, Inc. (“Concho”) in July 2018. Mr. McNeill also served as a member of the board of directors of RSP from December 2013 through July 2018 and has served on the board of Seawolf Resources, a Permian-focused private company that provides water solution services to the oil and gas industry, since April 2019. Before joining RSP, Mr. McNeill served as a managing director in the energy investment banking group of Raymond James Financial, Inc., advising companies operating in the exploration and production, midstream, and energy service and equipment segments of the energy industry. Mr. McNeill is a certified public accountant in the State of Texas and holds a B.B.A from Baylor University and an M.B.A from the University of Texas at Austin.


Jim Mutrie Director, Chief Commercial Officer, General Counsel and Secretary

Mr. Mutrie served as RSP’s Vice President, General Counsel and Corporate Secretary from June 2014 through the completion of the acquisition of RSP by Concho in July 2018. While at RSP, Mr. Mutrie was a board member of the Texas Oil and Gas Association, the largest and oldest group in Texas representing petroleum interests. Prior to RSP, Mr. Mutrie served as General Counsel and Compliance Officer at United Surgical Partners International (NASDAQ: USPI). From October 2003 to January 2007, Mr. Mutrie practiced corporate law at Vinson & Elkins L.L.P., representing public and private companies in M&A transactions and capital market offerings, predominantly in the oil and gas industry. Mr. Mutrie holds a B.A. from Cornell University, a J.D. from Northwestern University School of Law, a Certificate in Financial Management from Cornell University and a Certificate in Financial Skills for The Energy Industry from SMU Cox School of Business, Executive Education.


Josh Rosinski Chief Operating Officer

Mr. Rosinski a B.S. in Petroleum Engineering.


Board of Directors


Zane Arrott has been a member of our board of directors since July 2019. Mr. Arrott served as Chief Operating Officer of RSP from its formation in 2013 until the completion of the acquisition of RSP by Concho in July 2018. Since 1995, Mr. Arrott has served as the Chief Operating Officer for Rising Star Energy Development Company, L.L.C. and continues to serve on the boards of Rising Star Energy Development Company, L.L.C. and Rising Star Petroleum, L.L.C. From 1982 to 1995, Mr. Arrott held several positions with Placid Oil Company and was elevated to General Manager of its Canadian Division in 1988. He has a B.S. in Petroleum Engineering from Texas Tech University.


Joseph Armes has been a member of our board of directors since July 2019. Mr. Armes has served Chief Financial Officer and General Counsel of Hicks Sports Group, LLC, an owner and manager of various professional sports teams.

Ray Kubis has been a member of our board of directors since July 2020. Mr. Kubis has served as a director of Gridtential Energy, Inc., an inventor and developer of battery technology (“Gridtential”), since October 2015. Mr. Kubis has served as the Chairman of Gridential since November 2016. From June 2013 to October 2015 Mr. Kubis served as President, and from June 2013 to January 2020 Mr. Kubis served as a member of the Board of Directors of ECO-BAT Technologies Limited, which collects, recycles and produces products to the battery, mining and other industries. From March 2002 through January 2013, Mr. Kubis served as President—Europe, Middle East and Africa of EnerSys, a manufacturer, marketer and distributor of industrial batteries. From October 1998 to March 2002, Mr. Kubis was Vice President, General Manager, for the Energy Storage Group of Invensys plc. He has also worked in senior leadership positions with Johnson Controls and Exide in the automotive battery industry. Mr. Kubis received his Master of Business Administration degree from The Wharton School of the University of Pennsylvania and his Bachelor of Science degree in Accounting from the University of Illinois.


But What Does the SEC Filing Say?

Ray Kubis, age 66, has served as a director of Gridtential Energy, Inc., an inventor and developer of battery technology (“Gridtential”), since October 2015. Mr. Kubis has served as the Chairman of Gridential since November 2016. From June 2013 to October 2015 Mr. Kubis served as President, and from June 2013 to January 2020 Mr. Kubis served as a member of the Board of Directors of ECO-BAT Technologies Limited, which collects, recycles and produces products to the battery, mining and other industries. From March 2002 through January 2013, Mr. Kubis served as President—Europe, Middle East and Africa of EnerSys, a manufacturer, marketer and distributor of industrial batteries. From October 1998 to March 2002, Mr. Kubis was Vice President, General Manager, for the Energy Storage Group of Invensys plc. He has also worked in senior leadership positions with Johnson Controls and Exide in the automotive battery industry. Mr. Kubis received his Master of Business Administration degree from The Wharton School of the University of Pennsylvania and his Bachelor of Science degree in Accounting from the University of Illinois. Mr. Kubis is well-qualified to serve as a director due to his extensive experience in various leadership roles throughout the transportation and industrial battery industries.

I reached out to SwitchBack with a couple of pluggie questions and this is what was said in response:




Speculation?

They were gonna go gas and oil but knew they needed to pivot. They found an avenue and a guy to help bring that avenue to life. That guy Ray Kubis said he wants his name on this, and who wouldn’t?

Batteries, Cobalt, Lithium Miners?

Middle man to all EV in the form of a SPAC, yes please!

Charts!

https://www.sec.gov/Archives/edgar/data/1777393/000121390020018634/ea124555-8k_switchbackenergy.htm

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