Monday, February 22, 2021

Xos Plans $2 Billion SPAC For Electric Trucks

Los Angeles-based Xos, a relatively unknown, new electric truck startup, has agreed to go public at a $2 billion valuation, via a SPAC offering, according to reports. The company--which had just raised $20M--will be acquired in a reverse merger with NextGen Acquisition Corp. The deal will raise $220M in funding, with investors reportedly includi

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