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New Deal


Announced

Completed

Lightning eMotors went public via a SPAC merger with GigCapital3 in an $823m deal.

Financials

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Transaction Value£621m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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electric vehicles

Acquisition

Domestic

Automobiles

United States

electric vehicle technology

Private

Single Bidder

Majority

Friendly

Reverse Takeover

Merger

De-SPAC

Private Equity

Completed

Synopsis

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Lightning eMotors, a company that electrifies commercial-vehicle fleets, went public via a SPAC merger with GigCapital3 in an $823m deal. The combined company has changed its name to Lightning eMotors, and its common stock and warrants began trading on the New York Stock Exchange under the new symbols “ZEV” and “ZEV.WS” “GigCapital3 is thrilled to partner with Lightning eMotors, using our Private-to-Public Equity platform, where GigCapital3 brings its management’s well-recognized and decades-long technology public-market operational and entrepreneurial expertise to enable the successful transition of a high-growth EV company like Lightning eMotors to a publicly traded entity,” Raluca Dinu, GigCapital3 Founding Managing Partner.

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