SPAC Boom Propels Electric Carmakers to Public Markets
Bloomberg 1/22/2021 Ed Ludlow and Crystal Tse
(Bloomberg) Until June last year, Tesla Inc. was the only dedicated electric carmaker based in the U.S. on the stock market. Then special purpose acquisition companies took over Wall Street.
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SPACs, or blank-check companies, are shell vehicles that raise money to take a private company public via a reverse merger. Unlike traditional initial public offerings, SPAC deals allow listing candidates to market financial projections to investors, a perk for earlier stage companies that have yet to prove their business model.
Electric-vehicle companies, many of which are yet to launch commercial products, have taken advantage of that. Nikola Corp. was the first high profile one to go public via a SPAC listing, followed by others including Lordstown Motors Corp., Fisker Inc. and Canoo Inc.
Lightning eMotors Receives Order For 200 EVs From ABC Companies
Jan 12, 2021 at 8:08am ET ++ The company intends to combine with GigCapital3, a special-purpose acquisition company (SPAC) later this year.
Colorado-based Lightning eMotors (formerly Lightning Systems) has announced a major $45 million order for 200 electric vehicles from ABC Companies.
ABC Companies received in December its first T2145e all-electric motor coach from Lightning eMotors and now wants to deploy 200 additional EVs, ranging from Class 3 Transit passenger wagons to motorcoaches (touring coach and high-capacity double-deck coaches). The deal is for new vehicles manufactured by Lightning eMotors, as well as for Lightning eMotors powertrain systems, that will be installed by ABC Companies into customers’ previously operated vehicles.
Anworth Mortgage Asset Corporation (NYSE: ANH) - Ready Capital Corporation (NYSE: RC)
Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of ANH to RC for 0.1688 RC shares per share.
If you are an investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780.
CounterPath Corporation (NASDAQ CM: CPAH)
Lifshitz Law Firm, P.C. announces investigation into possible breach of fiduciary duties in connection with the sale of CPAH to Alianza, Inc. for $3.49 per share.
If you are a CPAH investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780.
SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of GigCapital3, Inc. Merger
WILMINGTON, Del., Dec. 15, 2020 (GLOBE NEWSWIRE) Rigrodsky & Long, P.A. announces that it is investigating GigCapital3, Inc. (“GigCapital3”) (NYSE: GIK) regarding possible breaches of fiduciary duties and other violations of law related to GigCapital3’s agreement to merge with Lightning Systems, Inc. (“Lightning Systems”). Under the terms of the agreement, GigCapital3 will issue a number of shares of GigCapital3 common stock to stockholders of Lightning Systems. Upon the closing of the merger, stockholders of Lightning Systems will own approximately 66% of the outstanding shares of the combined company.
To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-gigcapital3-inc.
Lightning eMotors to go public in 2021, seeks to raise $270M – BizWest bizwest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizwest.com Daily Mail and Mail on Sunday newspapers.