Investing

‘We Were Fortunate on Timing’: 28-Year-Old SPAC Billionaire

‘Gearhead’ Healy’s Hyliion goes public in deal with Tortoise
Truck electrification startup began trading on Friday

WATCH: How the Tortoise-Hyliion merger made Thomas Healy a billionaire.(Source: Bloomberg)

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By Benjamin Stupples

October 5, 2020 at 4:00 AM EDT

Updated on

October 5, 2020 at 4:22 PM EDT

This article is for subscribers only.

Thomas Healy was secretly arranging a deal to turn his Texas-based truck electrification startup into a publicly traded company when the coronavirus pandemic struck.

The crisis halted many transactions, but not the one between special-purpose acquisition vehicle Tortoise Acquisition Corp. and Hyliion Inc., which Healy founded in 2015.