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Lightning EMotors Said In Talks to Go Public Via GigCapital3

  • Colorado company’s technology eliminates emissions in vehicles
  • Deal would follow XL Fleet’s pending merger with another SPAC
Updated on

Lightning EMotors, a company that focuses on fleet electrification and cutting out fuel consumption, is in advanced talks to go public through a merger with blank-check firm GigCapital3 Inc., according to people with knowledge of the matter.

GigCapital3 is seeking to raise about $100 million in new equity to support a transaction that would create a combined entity worth $700 million to $1 billion, including debt, said the people, who requested anonymity because the talks are private. Terms could change but a deal, if agreed, could be announced as soon as next week, some of the people said.