20 de outubro de 2020 , por
Shares have trimmed the loss a bit but still traded down 9.4% at $40.68 in the noon hour. “We are proud to have combined with Hyliion and look forward to working collaboratively with Thomas and the new board to make this transaction a long-term success,” said Vince Cubbage, chairman and CEO of Tortoise. The boards of directors of both Tortoise Acquisition Corp. and Hyliion unanimously approved the transaction. Click for more FreightWaves articles by Alan Adler. Hyliion’s technology tackles one of the biggest pain-points for the logistics and transportation industry: how to lower emissions without having to fully replace all existing assets and infrastructure – a move that is cost-prohibitive for many companies. Tortoise Acquisition Corp. and its directors and officers may be deemed participants in the solicitation of proxies of Tortoise Acquisition Corp.’s shareholders in connection with the proposed business combination. Tortoise Acquisition selected Hyliion from about 200 companies it considered as merger candidates. “It doesn’t require something new to happen that falls in its direction. On Monday, shareholders of Tortoise Acquisition Corp. , a special-purpose acquisition company, or SPAC, approved a merger with the Texas-based battery-powered heavy-duty truck company. Healy will continue as CEO of the combined company, overseeing the implementation of Hyliion’s corporate strategy. Hyliion makes an electric axle that converts diesel-powered trucks to electric hybrids. Comment document.getElementById("comment").setAttribute( "id", "a718ac3d58d499be7663896124cac5a2" );document.getElementById("cc8b361c52").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. is serving as legal advisor to Tortoise Acquisition Corp. Hyliion and Tortoise Acquisition Corp. will host a joint investor conference call to discuss the proposed transaction today, Friday, June 19, 2020 at 8:30 am ET. The less good news is that, just like Tortoise, Hyliion’s shares continue sinking. (Photo: James Menzies) “The completion of our merger greatly accelerates Hyliion’s growth plans and unlocks the potential value of our business,” said Thomas Healy, CEO and founder of Hyliion. Hyliion Inc.'s merger with a special purpose acquisition company officially closed the afternoon of Oct. 1, clearing the way for the shares of the Cedar Park … Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Tortoise Acquisition Corp.’s periodic filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019. Cramer Discusses EV SPACs, Highlights Fisker, Hyliion, Benzinga's Top Upgrades, Downgrades For October 15, 2020, Hyliion Shares Up On VC Stake, Flying J Stake Disclosures, 44 Stocks Moving In Wednesday's Mid-Day Session, You Are Not Alone: Psychedelic Therapy And Mental Health Awareness, Privacy Policy / Do Not Sell My Personal Data. Podcasts: FreightWaves FreightCasts Network, graduate from struggling startup to a fully funded maker, The backstory on the Tortoise-Hyliion merger, Birth of a SPAC: Ex-GM executive hunting next-gen mobility target, The Daily Dash: TRATON to acquire Navistar; early earnings disappoint, Hyliion finds partner to build natural gas fueling stations, Lordstown Motors SPAC vote set amid unique business risks, The Daily Dash: Last-mile event coverage and under-21 driver pilot program. A telephone replay will be available at 877-481-4010, passcode: 35438 through July 3, 2020. Security holders of Tortoise Acquisition Corp. are urged to read the proxy statement and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. Tortoise Acquisition selected Hyliion from about 200 companies it considered as merger candidates. Tortoise Acquisition Corp. and Hyliion caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Tortoise Acquisition Corp. or Hyliion. What’s Next For Tortoise Acquisition: The company behind this deal will turn its attention to Tortoise Acquisition Corp II (NYSE:SNPR), its new SPAC that raised $300 million. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Don't have a Benzinga account? Except as otherwise required by applicable law, Tortoise Acquisition Corp. and Hyliion disclaim any duty to update any forward looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Hyliion received $560 million in a reverse merger Sept. 28 with special purpose acquisition company (SPAC) Tortoise Acquisition Corp. He also spent two decades in domestic and international media relations and executive communications with General Motors. To listen to the prepared remarks via telephone dial 877-407-9210 (U.S.) and an operator will assist you. It is using the money to fund its Hypertruck ERX, which features a natural gas generator that makes electricity on board. As a result of the deal, Hyliion begins its new life as a publicly traded company with about $560 in fresh capital. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy.
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