PPGH | SPAC Merger with Gogoro Global - Taiwanese Startup Battery Swap + Electric Scooters

Here’s another asian SPAC on top of our beloved $AGC Grab merger :’ ) However, this looks more like a longer-term play. I am posting this DD because I am wondering if anyone else has heard of this merger and has more detailed outlook to share. It seems to be flying under the radar while its warrants pump over 100% over the last month or so.

About Gogoro Global
Gogoro is a Taiwanese startup specializing in two product lines:

The SPAC Merger Transaction

  • Poema (PPGH) at its January IPO has previously said it’s focused on finding a company in Asia or Europe that has “validated technologies and attractive unit economics”.

  • Definitive Agreement with Gogoro. The business combination sets Gogoro’s enterprise value at $2.35 billion. The business combination is expected to provide approximately $550 million in proceeds (assuming no redemptions) to Gogoro’s balance sheet including an oversubscribed PIPE of over $250 million as well as $345 million currently held in trust by Poema Global.

  • The DA was announced on September 16, 2021 and is expected to close in Q1 2022.

Gogoro’s International Expansion Out of Taiwan
Use of the $550 million proceeds include expansion into China, India and Southeast Asia and no doubt they will look to expand further:

  • Gogoro partners with two of China’s largest motorbike companies: Gogoro's biggest announcement yet sees major international expansion

  • Scroll down this link to see all of the news related to expansions as well as the recent recognition by Frost & Sullivan for “revolutionizing the electric two-wheeler market with its swappable battery approach”.

  • One area of concern is the rising tension between Taiwan and China. This could put a dent in the China expansion plans. However, nothing’s stopping Gogoro from making deals elsewhere?

1000 x PPGHW at 0.80

I first learned about PPGH via this Reddit post when I was searching u/fastlapp’s comment history. No options available. I noticed that PPGHW has been steadily increasing in value over the last few weeks and is now worth 1.89, despite the underlying stock staying flat at $10. This might be an interesting play as the merger finalizes and as Gogoro continues to expand.

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Funny enough, social media has been silent on PPGH all this time and right after I made a post here, someone makes an extensive two-part DD on Reddit:




There are 4k users, wouldn’t be surprised if it was a lurker who made the post.


Collecting more research. A look at PPGH competitors:


Just got stopped out of my PPGHW at 1.60 today.