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