Electric Truck Maker Xos to Go Pubic Via $2 Billion SPAC Deal with NextGen Acquisition Corp. (NGAC) - Bloomberg

February 22, 2021 6:19 AM EST
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Xos, a maker of electric commercial vehicles, has agreed to go pubic through a merger with blank-check company, NextGen Acquisition Corp. (NASDAQ: NGAC), according to a statement reviewed by Bloomberg News.

The deal values the combined equity at $2 billion. To support the transaction, the SPAC will raise $220 million from investors including Janus Henderson and a group of truck dealers led by Thompson Truck Centers.

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