Lightning eMotors SPAC merger vote set for April 21

LOVELAND — The shareholder vote to take public commercial electric vehicle manufacturer Lightning eMotors via the special-purpose acquisition company GigCapital3 Inc. (NYSE: GIK) has been set for 10 a.m., April 21, according to documents filed Monday with the U.S. Securities and Exchange Commission. 

If approved by GigCapital3 shareholders, GigCapital3 and Lightning eMotors will combine. Lightning eMotors will be the surviving business, and the company’s stock ticker will change to ZEV from GIK.

This would complete a process that began in December 2020, when Lightning eMotors entered into a business-combination agreement with the SPAC that included $202 million in cash, $539 million in new common stock issuances and $125 million in private-investment-in-public-equity funds.

Lightning eMotors was founded in 2008. Rather than build new electric vehicles from scratch, the company makes fully electric powertrains that fit existing commercial chassis, such as the Ford Transit and F-59 vans, Ford F-450 and F-550 buses and General Motors 6500 trucks. 

© 2021 BizWest Media LLC

LOVELAND — The shareholder vote to take public commercial electric vehicle manufacturer Lightning eMotors via the special-purpose acquisition company GigCapital3 Inc. (NYSE: GIK) has been set for 10 a.m., April 21, according to documents filed Monday with the U.S. Securities and Exchange Commission. 

If approved by GigCapital3 shareholders, GigCapital3 and Lightning eMotors will combine. Lightning eMotors will be the surviving business, and the company’s stock ticker will change to ZEV from GIK.

This would complete a process that began in December 2020, when Lightning eMotors entered into a business-combination agreement with the SPAC that included $202 million in cash, $539 million in new common stock issuances and $125 million in private-investment-in-public-equity funds.

Lightning eMotors was founded in 2008. Rather than build new electric vehicles from scratch, the company makes fully electric powertrains that fit existing commercial chassis, such as the Ford Transit and F-59 vans, Ford F-450 and F-550 buses and General Motors 6500 trucks. 

© 2021 BizWest Media LLC