The Lion Electric Company to go public via NGA spac company
The Lion Electric Company and Northern Genesis Acquisition Corp. Announce Merger and Commitments for $200 Million in a PIPE; Combined Company Expected to be Listed on NYSE
- The Lion Electric Company ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles
- Pro forma implied market capitalization of the combined company of $1.9 billion, at the $10.00 per share PIPE subscription price and assuming no public shareholders of Northern Genesis exercise their redemption rights.
- Transaction includes a $200 million fully committed private placement of common shares in Lion (PIPE).
- The company is expected to receive approximately $500 million of net cash proceeds in connection with the transaction, comprised of $200 million from a PIPE and approximately $320 million of cash held in trust by Northern Genesis assuming no public shareholders of Northern Genesis exercise their redemption rights at closing.
- Completion of the proposed transaction is expected to occur in the first quarter of 2021.
finance.yahoo.com/news/lion-electric-company-northern-genesis-113000222.html stock
- The Lion Electric Company ("Lion" or the "Company"), a leading manufacturer of all-electric medium and heavy-duty urban vehicles
- Pro forma implied market capitalization of the combined company of $1.9 billion, at the $10.00 per share PIPE subscription price and assuming no public shareholders of Northern Genesis exercise their redemption rights.
- Transaction includes a $200 million fully committed private placement of common shares in Lion (PIPE).
- The company is expected to receive approximately $500 million of net cash proceeds in connection with the transaction, comprised of $200 million from a PIPE and approximately $320 million of cash held in trust by Northern Genesis assuming no public shareholders of Northern Genesis exercise their redemption rights at closing.
- Completion of the proposed transaction is expected to occur in the first quarter of 2021.
finance.yahoo.com/news/lion-electric-company-northern-genesis-113000222.html stock
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.