CFIUS Clearance: SK ecoplant Co. Ltd. and Bloom Energy Corporation
Wednesday, October 5, 2022

Status:  Clearance


Acquirer: SK ecoplant Co., Ltd. (South Korea)

Acquired: Bloom Energy Corporation (U.S.)

Value: $500 Million

Industry: Energy

Pursuant to an October 23, 2021, Securities Purchase Agreement, by and between SK ecoplant Co., Ltd., and Bloom Energy Corporation, SK ecoplant Co., Ltd., agreed to purchase certain Bloom Energy Series a Redeemable Convertible Preferred Stock and Common Stock in two separate tranches.  (Securities Purchase Agreement, Bloom Energy Corporation Schedule 13D, Ex-99.(A), Oct. 4, 2022, SEC Filing.)  “CFIUS Clearance,” as defined in the agreement, was a mutual condition to closing the first tranche under the agreement, (Id. at Section 8.1), which was acquired on December 29, 2021. (See Bloom Energy Corporation Schedule 13D, Ex-99.(A), Oct. 4, 2022, SEC Filing.)  

 

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