On completion of the deal, the company will be named Lightning eMotors Inc. and will be listed on the New York Stock Exchange under the ticker symbol ZEV. To start, the key part of the story is that GigCapital3 will soon be taking Lightning eMotors public via a reverse merger. Lightning eMotors and GigCapital3 (NYSE: GIK) enter into a definitive agreement for a business combination that will result in Lightning eMotors becoming a … Urban Commercial Zero-Emission Vehicle Company Lightning eMotors Investor Presentation December 10, 2020. Lightning eMotors is the leading innovator in the US commercial medium-duty Electric Vehicle (“EV”) market with … December 10, 2020. If we have learned anything from history, investors could keep bidding it up. Urban Commercial Zero-Emission Vehicle Company Lightning eMotors to List on New York Stock Exchange Through Merger with GigCapital3, Inc. It turns out GIK stock is riding higher ahead of the Lightning eMotors SPAC merger. The merged company will be named Lightning eMotors Inc. and list on the New York Stock Exchange under the ticker "ZEV." With that in mind, here are 12 things to know about GIK stock and the Lightning eMotors SPAC merger: Investors are clearly excited about GIK stock and the Lightning eMotors SPAC merger. Although this figure may not be huge, it gives Lightning an edge against still-in-development peers. The boards of both companies have unanimously approved the merger, the companies said. Lightning eMotors will reach production of 20,000 medium-duty EVs by 2025. So what do you need to know? Subscribe now to stay ahead with the most trusted business news source. GigCapital3, led by executive chairman Avi Katz, raised $200 million in a May initial public offering. Tickers EVS F GIK IPOS. Lightning eMotors is going public via the SPAC GigCapital3 (NYSE: GIK). The T2145e electric motor coach undergoing final testing in Colorado. It expects to reach annual production of 20,000 medium-duty commercial vehicles by 2025. Lightning Motors has designed and produced a Sport Bike sure to change the minds of anyone doubting electric motorcycle performance. Lightning eMotors is a high-growth electric vehicle manufacturer focused on urban commercial zero-emission vehicles. Lightning eMotors ("Lightning eMotors" or the "Company"), a leading provider of complete electrification solutions for commercial fleets, and GigCapital3, Inc. ("GIK" or "GigCapital3") (NYSE: GIK), a Technology, Media and Telecom (TMT) Private-to-Public Equity (PPE)™ corporation, today announced they have entered into a definitive agreement for a business combination that will result in Lightning … Bloomberg News had reported the two companies were in talks to merge. All rights reserved. — https://bit.ly/3fOcszi— HOLIDAY SALE! Routine local forecasts and products from the Austin/San Antonio National Weather Service Office. Upon closing of the transaction, the combined operating company will be named Lightning eMotors, Inc. and will trade under the ticker symbol ZEV. Latest News about Lightning eMotors. It can produce 1,000 vehicles today, and plans to scale to 20,000 by 2025. 3 Key Things for Investors to Watch Ahead of Nio Day >>>, GIK Stock: 12 Things to Know Ahead of the Lightning eMotors SPAC Merger, predicts $354 million in revenue for 2022, 7 Top Tech Dividend Stocks Worth Taking a Chance On, Louis Navellier and the InvestorPlace Research Staff, 3 Megatrends (and 9 Stocks) to Buy for the ‘Blue Wave’, Ethereum Price Prediction 2021: 5 ETH Experts Share Their Outlook, 7 Hot Stocks to Buy Now Before They Take Off, 7 Hydrogen Stocks to Buy for the Future of Travel, The 7 Best Cheap Stocks to Buy in 2021 for Under $15, GigCapital3 first came public in May 2020 and started trading on the. Its move higher in pre-market trading comes after some big acquisition news. Upon closing of the transaction, the combined operating company will be named Lightning eMotors, Inc. and will be listed on the New York Stock Exchange under the ticker symbol ZEV. The first zero-emission motorcoach was delivered in December. 2021 InvestorPlace Media, LLC. The new, longer-range Lightning Electric Transit Van is the fourth generation of its battery-electric and fuel cell electric platform, based on the Ford Transit 350HD chassis. Upon closing of the transaction, the combined operating company will be named Lightning eMotors, Inc. and will be listed on the New York Stock Exchange under the ticker symbol ZEV. As the end of the week draws near, blank-check company GigCapital3 (NYSE:GIK) is revving up. GIK Stock: SPAC Merger Target Lightning eMotors Unveils Next-Gen Electric Transit Van Bet on the Jockey, If Not the Horse, with Pershing Square HYLN Stock: Why EV Play Hyliion Is Headed Higher Today View All Vehicles. Lightning eMotors, formerly known as Lightning Hybrids, buys commercial-vehicle chassis from suppliers including Ford Motor Co. and assembles the final, electric versions at its 250,000 square-foot facility in Loveland, Colorado. Lightning eMotors is a high-growth electric vehicle manufacturer focused on urban commercial zero-emission vehicles. Copyright © 2021 InvestorPlace Media, LLC. Recent news which mentions Lightning eMotors. Upon closing of the transaction, the combined operating company will be named Lightning eMotors, Inc. and will be listed on the New York Stock Exchange under the ticker symbol ZEV. For 2021, that figure should be closer to 3,000. Medium-Duty Electric Vehicle Share Leader Lightning eMotors Going Public In SPAC Deal. All rights reserved. The deal values Lightning eMotors at $650 million. Right now, Lightning eMotors stands out because its vehicles are already in production. GigCapital3 stock immediately rocketed 14.5% in price once trading opened this morning, although it has since given up most of those gains and is now … Specifically though, there is reason to find appeal in GIK stock and the Lightning eMotors SPAC merger. Lightning eMotors is a high-growth electric vehicle manufacturer focused on urban commercial zero-emission vehicles. Lightning eMotors offers the widest range of high-quality, high-performance vans, trucks and buses in the market. December 11, 2020. Lightning eMotors has announced a new model of its Class 3 Lightning Electric Transit Van. This is even more true following solid-state battery advancements from QuantumScape (NYSE:QS). (Bloomberg) -- Lightning eMotors, a company that electrifies commercial-vehicle fleets, has agreed to go public through a … Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Tags M&A Benzinga News. (Bloomberg) -- Lightning eMotors, a company that electrifies commercial-vehicle fleets, has agreed to go public through a merger with GigCapital3 Inc., a blank-check company. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The new company will … (Updates with pre-market trading in third paragraph), For more articles like this, please visit us at bloomberg.com. SPAC Surges 20% On Merger Deal With EV Company Lightning eMotors. The transaction is expected to close sometime in … Upon closing of the transaction, the combined operating company will be named Lightning eMotors, Inc. and will be listed on the New York Stock Exchange under the ticker symbol ZEV. GET ELITE MEMBERSHIP 34% OFF! Lightning eMotors, a leading provider of commercial electric vehicles for fleets, announced a $45-million order for its zero-emission powertrain systems from Faribault, Minnesota-based motorcoach supplier ABC Companies. Here's my analysis on Lightning eMotors which will be going public when it merges with GigCapital3 (GIK)! From Benzinga. Shares of GigCapital3 jumped 22% in premarket trading Friday. By accessing this page, you agree to the following This is because Lightning eMotors has proprietary vehicle control software, mobile charging solutions and other software integrations for EVs. The pro forma implied equity value of the merger is $823 million. Additionally, the company will reach revenue of $63 million in 2021 and. LIGHTNING ENERGY. On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. But what do investors really need to know? It serves a total addressable market of $67 billion. Lightning eMotors is in advanced talks to go public through a merger with blank-check firm GigCapital3 (NYSE: GIK), according to Bloomberg, citing people with knowledge of the matter. 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