ZombieClean Energy
What Happened to Spruce Power Holding?
Ticker: SPRUSPAC Year: 2019
Return
-58.2%
Current Price
$4.18
Peak Price
$280
Trust Size
$857M
Summary
Spruce Power (formerly XL Fleet) is a residential clean energy company that acquires and manages rooftop solar assets, servicing over 75,000 home solar installations across the U.S.
What Happened
The company originally went public as XL Fleet in December 2020 via a SPAC merger focused on fleet electrification. After the electrification business faltered, the company pivoted entirely in 2022 by acquiring a large portfolio of residential solar assets and rebranded as Spruce Power. The dramatic transformation represents one of the more unusual post-SPAC pivots, from electric trucks to rooftop solar servicing.
Timeline
2019-06-13
S-1 Registration Filed
Risk Indicators
⚠️ Reverse Split