Lion Electric In Merger Talks With Northern Genesis
- Maker of electric vehicles would go public via SPAC merger
- Combined entity would be worth $2 billion or more after deal
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The Lion Electric Co., a maker of electric vehicles such as yellow school buses, is in talks to go public through a merger with blank-check firm Northern Genesis Acquisition Corp., according to people with knowledge of the matter.
Northern Genesis has begun discussions with prospective investors about raising a targeted $500 million in new equity to support a transaction, said some of the people, who requested anonymity because the talks are private.