The pro forma implied equity value of the merger is $823 million. Copyright © Shares of GigCapital3 jumped 22% in premarket trading Friday. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Right now, Lightning eMotors stands out because its vehicles are already in production. It adds technology to the vans, trucks and buses that reduces their emissions to zero; it also provides a charging service. The boards of both companies have unanimously approved the merger, the companies said. LOVELAND — Lightning eMotors, a Loveland-based developer and manufacturer of electric powertrains, is going public on the New York Stock Exchange next year.In a statement, the company said it has agreed to merge with GigCapital3 Inc. (NYSE: GIK) at some point in the first half of 2021 and trade on the New York Stock Exchange under the ticker symbol ZEV.Lightning eMotors … Lightning eMotors and GigCapital3 (NYSE: GIK) enter into a definitive agreement for a business combination that will result in Lightning eMotors becoming a … On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. As the end of the week draws near, blank-check company GigCapital3 (NYSE:GIK) is revving up. Now, GigCapital3 says it will take Lightning eMotors public, and GIK stock is climbing as a result. The deal is expected to generate gross proceeds of $125 million and gives Lightning eMotors a pro-forma equity valuation of around $823 million, the companies said Thursday in a statement. Urban Commercial Zero-Emission Vehicle Company Lightning eMotors to List on New York Stock Exchange Through Merger with GigCapital3, Inc. — https://bit.ly/3fOcszi— HOLIDAY SALE! Keep an eye on GIK stock ahead of the Lightning eMotors SPAC merger. Tickers EVS F GIK IPOS. Lightning eMotors will reach production of 20,000 medium-duty EVs by 2025. LIGHTNING ENERGY. quotes delayed at least 15 minutes, all others at least 20 minutes. Recent news which mentions Lightning eMotors. The first zero-emission motorcoach was delivered in December. Lightning EMotors to Go Public in Reverse Merger With SPAC. Nasdaq Subscribe now to stay ahead with the most trusted business news source. Lightning Motors has designed and produced a Sport Bike sure to change the minds of anyone doubting electric motorcycle performance. Specifically though, there is reason to find appeal in GIK stock and the Lightning eMotors SPAC merger. 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 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. To start, the key part of the story is that GigCapital3 will soon be taking Lightning eMotors public via a reverse merger. To start, the key part of the story is that GigCapital3 will soon be taking Lightning eMotors public via a reverse merger. Bloomberg News had reported the two companies were in talks to merge. By accessing this page, you agree to the following December 10, 2020. But what do investors really need to know? Copyright © 2021 InvestorPlace Media, LLC. Lightning eMotors is a high-growth electric vehicle manufacturer focused on urban commercial zero-emission vehicles. 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 … This is even more true following solid-state battery advancements from QuantumScape (NYSE:QS). All rights reserved. Lightning eMotors has announced a new model of its Class 3 Lightning Electric Transit Van. December 11, 2020. GIK Stock: SPAC Merger Target Lightning eMotors Unveils Next-Gen Electric Transit Van Dec. 16, 2020 at 11:12 a.m. Initially, GigCapital3 said it wanted to focus on technology, media and telecommunications businesses. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Lightning eMotors is a high-growth electric vehicle manufacturer focused on urban commercial zero-emission vehicles. Its move higher in pre-market trading comes after some big acquisition news. Lightning eMotors is going public via the SPAC GigCapital3 (NYSE: GIK). If we have learned anything from history, investors could keep bidding it up. 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. Lightning eMotors is a high-growth electric vehicle manufacturer focused on urban commercial zero-emission vehicles. For 2021, that figure should be closer to 3,000. (Bloomberg) -- Lightning eMotors, a company that electrifies commercial-vehicle fleets, has agreed to go public through a merger with GigCapital3 Inc., a … 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. Hyliion stock jumped 6.6% to 16.79 on the stock market today, but is still well below its 50-day line, according to MarketSmith chart analysis. Sarah Smith is a Web Content Producer with InvestorPlace.com. Lightning eMotors is the leading innovator in the US commercial medium-duty Electric Vehicle (“EV”) market with … So what do you need to know? Lightning eMotors (“Lightning eMotors” or the “Company”), a leading provider of … 1125 N. Charles St, Baltimore, MD 21201. Lightning eMotors is the leading innovator in the US commercial medium-duty Electric Vehicle (“EV”) market with … From Benzinga. 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. ET on InvestorPlace.com. GigCapital3, led by executive chairman Avi Katz, raised $200 million in a May initial public offering. 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. Additionally, Lightning eMotors currently has a backlog for 2021 and 2022 of 1,500 vehicles. The LS-218 is the fastest production motorcycle in the world – gas or electric. Lightning eMotors and GigCapital3 announced they have entered into a definitive agreement for a business combination that will result in Lightning eMotors becoming a publicly listed company on the NYSE. In fact, the company says it has the largest zero-emission fleet vehicle manufacturing facility in the U.S. Our Lightning Energy division is dedicated to ensuring you have the charging infrastructure you need to power your fleet of electric vehicles. Because Lightning eMotors has a role in the battery and electric vehicle market, GIK stock already looks hot. This is because Lightning eMotors has proprietary vehicle control software, mobile charging solutions and other software integrations for EVs. Because Lightning eMotors … The new company will … All rights reserved. Lightning eMotors is a high-growth electric vehicle manufacturer focused on urban commercial zero-emission vehicles. The merged company will be named Lightning eMotors Inc. and list on the New York Stock Exchange under the ticker "ZEV." 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 … Top SPAC … It can produce 1,000 vehicles today, and plans to scale to 20,000 by 2025. By accessing this page, you agree to the following Article printed from InvestorPlace Media, https://investorplace.com/2020/12/gik-stock-12-things-to-know-ahead-of-the-lightning-emotors-spac-merger/. Although this figure may not be huge, it gives Lightning an edge against still-in-development peers. Here's my analysis on Lightning eMotors which will be going public when it merges with GigCapital3 (GIK)! 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. 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. 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. Tags M&A Benzinga News. The market has a huge appetite for new offerings, and SPAC deals and initial public offerings have largely flourished. Additionally, the company will reach revenue of $63 million in 2021 and. Additionally, we know that the EV and battery markets are particularly hot. At the time, the company raised $200 million by selling 20 million units at $10 each. The T2145e electric motor coach undergoing final testing in Colorado. 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. Urban Commercial Zero-Emission Vehicle Company Lightning eMotors to List on New York Stock Exchange Through Merger with GigCapital3, Inc. (Updates with pre-market trading in third paragraph), For more articles like this, please visit us at bloomberg.com. Lightning eMotors, a leading provider of complete electrification solutions for commercial fleets, and GigCapital3, Inc. (NYSE: GIK), today announced they have entered into a definitive agreement for a business combination that will result in Lightning eMotors becoming … And why does this SPAC deal matter? It serves a total addressable market of $67 billion. Contact us to electrify your fleet now. Medium-Duty Electric Vehicle Share Leader Lightning eMotors Going Public In SPAC Deal. 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. Lightning eMotors Delivers First All-Electric Motorcoach to ABC Companies, Receives Order for 200 Zero Emissions Vehicles 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 trade under the ticker symbol ZEV. Lightning eMotors' products are said to be complementary to Ford's announced 2022 E-Transit, which will be a battery-electric Class 2 cargo/cab/chassis van … Lightning eMotors offers the widest range of high-quality, high-performance vans, trucks and buses in the market. Upon closing of the business combination, the combined operating company will be named Lightning eMotors and will be listed on the New York Stock Exchange under the ticker symbol [“ZEV”]. Among other EV stocks, Lordstown stock … It expects to reach annual production of 20,000 medium-duty commercial vehicles by 2025. ... Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Lightning says it is the only manufacturer that has a full line of battery and fuel cell zero-emission commercial vehicles on the road. 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. View All Vehicles. Following the announcement of the pending acquisition, GIK stock is now up 15% in pre-market trading. 2021 InvestorPlace Media, LLC. 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. Routine local forecasts and products from the Austin/San Antonio National Weather Service Office. The MarketWatch News Department was not involved in the creation of this content. There is, of course, the broad trend we have seen in special purpose acquisition companies in recent weeks. (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. Urban Commercial Zero-Emission Vehicle Company Lightning eMotors Investor Presentation December 10, 2020. (Bloomberg) -- Lightning eMotors, a company that electrifies commercial-vehicle fleets, has agreed to go public through a … — JOIN OUR 10X TRADER TRIBE FOR FREE! The deal values Lightning eMotors at $650 million. It turns out GIK stock is riding higher ahead of the Lightning eMotors SPAC merger. GET ELITE MEMBERSHIP 34% OFF! Latest News about Lightning eMotors. The transaction is expected to close in the first half of next year, pending shareholder and regulatory approvals. The company said in October it had more than doubled its manufacturing space, ramped up production and doubled its workforce. 1125 N. Charles St, Baltimore, MD 21201. , GIK stock already looks hot turns out GIK stock is now up 15 % in premarket trading Friday find! It up offerings, and plans to scale to 20,000 by 2025 GigCapital3 NYSE... It serves a total addressable market of $ 63 million in a may public... 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