Xos, Inc (XOS) Closes Acquisition of ElectraMeccanica
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Xos, Inc. Accelerates Growth with Strategic Acquisition of ElectraMeccanica
March 26, 2024 8:51 AM EDTLOS ANGELES, March 26, 2024 (GLOBE NEWSWIRE) -- Xos, Inc. (NASDAQ: XOS), a leading electric truck manufacturer and fleet electrification services provider, today announced that it has closed its acquisition of ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (ElectraMeccanica), a designer and assembler of electric vehicles. Terms of the acquisition were first announced on January 11, 2024.
The all-stock transaction is expected to add approximately $48 million to Xos balance sheet and provide growth capital for the company.
The growth capital received in the transaction, combined... More
