Especially as a number of hedge funds have started increasing their positions. Likely two weeks before merger date announcement. 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. "Hyliion upfits Class 8 trucks to run on dual fuel sources. Tortoise Acquisition Corp. (NYSE: SHLL) is a special purpose acquisition company formed for the purpose of effecting a merger, stock exchange, acquisition, reorganization or similar business combination with one or more businesses. He is joined by Hyliion’s executive team: Patrick Sexton, CTO, Greg Van de Vere, CFO, and Michael Camp, COO. In addition to $235 million that Tortoise invested from its own initial public offering, a sale of discounted shares raised $325 million in a private investment in public equity (PIPE) at $10 a share. Once the word spreads and SHLL announces the merger date with EV manufacturer Hyliion than investors should flock in the masses. Because people will not want to watch another EV opportunity pass them by. Conduct of Business Institutional buying seems to be the reason SHLL gapped up today. These funds will be used to accelerate product commercialization, product production, operational growth and for general corporate purposes. A coming merger—that of Fortress Value Acquisition and MP Materials, an owner and operator of North America’s largest rare-earths mineral mine—will produce a potent stock. Better off count the profits now and reinvest later when the price dips again. Tortoise’s expertise spans across the entire energy and infrastructure value chain.

Nikola shares rose 103.7% on June 8, their third day of … Tortoise shares jumped on the June 19 merger announcement – from $10.22 to more than $17 in intraday trading Monday. In SHLL the smart money is coming from Morgan Stanley, Credit Suisse, UBS, Goldman Sachs, Bank of America, and many more. Now through Labor Day, you can get 2 months of IBD Digital for the price of 1! Sign up today! Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. 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.

Posted by 3 days ago. “We are building solutions that are available today and address the immediate needs of today’s trucking fleets,” said Thomas Healy, CEO and founder of Hyliion. 126. Nonetheless a medium-term investment should not be ruled out (opinion not advice) and here is why:Following the ‘smart money’, especially in a turbulent climate, is a clever strategy. Nikola shares rose 103.7% on June 8, their third day of trading. "Given the blank check nature of a SPAC, we thought SHLL was a good play on our firm's name as well as our SPAC," Stephen Pang, Tortoise Acquisition chief financial officer, told FreightWaves.All existing shareholders and investors will continue to hold their equity ownership, including Dana, Sensata Technologies, Sumitomo Corporation of Americas, Axioma Ventures, FJ Management, New Era Capital Partners, Colle Capital Partners and others.
A telephone replay will be available at 877-481-4010, passcode: 35438 through July 3, 2020. Barclays Capital Inc. served as exclusive M&A advisor to Tortoise Acquisition Corp. Barclays Capital Inc. and Goldman Sachs & Co. LLC served as joint-placement agents on the PIPE offering. We are honored that they made us a part of their team and are looking forward to helping them deploy their sustainable, electrified trucking solutions to significantly reduce emissions and contribute to a cleaner energy future.” Author: Electric car company Karma Automotive could go public via a blank-check deal, joining Nikola (NKLA), Hyliion and Fisker in the ...Spartan Energy (SPAQ), a blank check company backed by private equity firm Apollo Global Management (APO), announced a deal for ...Another electric truck startup is looking to go public via a so-called blank check company, joining Nikola (NKLA) as a ...Hyliion Inc. (Hyliion), a leader in electrified powertrain solutions for Class 8 commercial vehicles, and Dana Incorporated (NYSE: DAN), a leader in commercial vehicle drivetrains known for its Spicer Electrified technologies, have launched a national program with Idealease to demonstrate Hyliion’sWe want to know how satisfied you are with your online broker. “Hyliion’s solutions were specifically developed to utilize existing infrastructure in an effort to support rapid technology deployment. Copies may be obtained free of charge at the SEC’s web site at “Over the past 15 months since our IPO, we have evaluated more than 200 companies looking for the ideal opportunity where our expertise and capital could be the catalyst needed to unlock the full potential of a high-growth business,” said Vince Cubbage, CEO and chairman of Tortoise Acquisition Corp. “We found that exceptional company with Hyliion—with a market-disruptive business plan, transformational product, and remarkable founder and CEO. Usually, when a company rises out of the blue, it was an institution pouring in a gigantic amount of cash. The implied market capitalization of Hyliion is $1.5 billion.The new company, which will be called Hyliion Holdings Corp., will trade as HYLN on the NYSE assuming the merger receives U.S. Securities and Exchange Commission (SEC) approval.The SEC approval of the Nikola merger with VectoIQ lit the fuse to a huge run-up in the shares of VTIQ. Hyliion to merge with Tortoise Acquisition (NYSE:SHLL) and will be named Hyliion Holdings and remain on the NYSE under the new ticker symbol “HYLN.”.


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