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This EV Startup Is Going Public. Unlike Nikola, It Has Sales.

Last Updated: Sept. 23, 2020 at 4:58 p.m. ET First Published: Sept. 23, 2020 at 6:30 a.m. ET



Electric vehicles are on a hot streak. Stock in Tesla, the EV behemoth, is up more than 400% year to date, and startups hoping to be the next Tesla have raised billions in capital. Now another EV company is raising money, but this one has a different approach from many of its peers.

On Friday, XL Fleet announced plans to merge with Pivotal Investment Coroporation II (ticker: PIC), a special purpose acquisition company, or SPAC. The companies expect their combination to close by the end of 2020, at which point Pivotal shares will convert to shares in XL Fleet, under the ticker XL.

Pivotal stock surged over 20% from Thursday’s close through Tuesday’s close.


https://www.marketwatch.com/articles/ev-...oremw_bomw

XL Fleet, a Leader in Commercial Vehicle Electrification, and Pivotal Investment Corporation II Announce Closing of Merger; XL Fleet to Trade on NYSE as “XL”
December, 22, 2020

BOSTON & NEW YORK--(BUSINESS WIRE)-- XL Fleet (the “Company”), a leader in vehicle electrification solutions for commercial and municipal fleets, today announced that it has completed its previously announced merger with Pivotal Investment Corporation II (NYSE: PIC) (“Pivotal”), a publicly traded special purpose acquisition company. The transaction, which was approved by Pivotal’s stockholders at its annual meeting held on December 21, 2020, resulted in the combined company being renamed “XL Fleet Corp.”, with its common stock and warrants to commence trading on the New York Stock Exchange at the opening of trading on December 22, 2020 under the ticker symbols “XL” and “XL WS”, respectively....

https://investors.xlfleet.com/news/news-...fault.aspx


und aus PIC wurde XL....