Stem Gains On Agreement To Acquire Clairvest Equity, Also Energy

Stem, Inc. (STEM) shares are trading up on Thursday morning after the company announced an agreement to acquire Clairvest Equity Partners V and other shareholders of Also Energy Holdings Inc. for $695 million. Clairvest said it will realize total sale proceeds of approximately $350 million. The proposed transaction is expected to close in the first quarter of 2022.

Currently, Stem is trading at $18.58, up 4.07 percent from the previous close of $17.92 on a volume of 813,538. For the 52-week period, the shares have traded in a range of $16.00-$51.49 on average volume of 3,149,284.

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