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ZeroNox failed to go public via a SPAC merger with Growth for Good Acquisition in a $306m deal.

Financials

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Transaction Value£255m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Single Bidder

Merger

United States

battery

De-SPAC

Acquisition

Majority

Auto Parts

agtech

Friendly

Reverse Takeover

Private

Failed

Synopsis

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ZeroNox, a provider of sustainable, off-highway vehicle electrification, failed to go public via a SPAC merger with Growth for Good Acquisition, a publicly traded special purpose acquisition company, in a $306m deal. “Having been raised in the Central Valley of California, Robert and I returned home to build a business that would first and foremost support our community. We are motivated to bring our neighbors – who use off-highway vehicles for work across ranches, farms, and construction sites – high performing, affordable and zero emissions equipment that can help grow their businesses. Simply put, that’s our mission, and we are thrilled to partner with Growth for Good, a SPAC with a social impact and sustainability mission that aligns with our own,” Vonn Christenson, ZeroNox CEO.

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