Just a couple of weeks ago Nikola (NASDAQ:NKLA) joined Tesla (NASDAQ:TSLA) club and made a such a commotion in the markets that everyone asked a question- Who is next? Here comes the answer. In the latest fuel-of-the-future installment electric power-train specialist Hyliion will merge with Tortoise Acquisition Corph.
🚨Brighter Alert 🚨— Brighter Investment Group (@24hrMarketWatch) June 19, 2020
Hyliion an industry leader in Class 8 truck electrification announced it will merge with Tortoise $SHLL. Hyliion merge is argued to be directly comparable to $NKLA and to some investors the “next Nikola” $SHLL https://t.co/CB4QVI4qrz
Once the deal closes, the new company will be named Hyliion Holdings Corp. and will take the stage on the New York Stock Exchange under the ticker symbol “HYLN.”
According to Hyliion, the pro forma implied market capitalization of the combined company is over $1.5 billion, and “proceeds will be used to fully fund the commercialization and mass production of the company’s electrified powertrain solutions. “
Furthermore, probably the most important part is the timing. The Company expects that “commercialization and launch activities” will commence in Q2 2021 while “volume production” will start somewhere around Q1 2022.
The advantage of investing in a SPAC before a merger is due to the fact that the SPAC ticker will change to the company ticker when merger is closed. If you like qhat you see and invest before merger/IPO you can gather good gains ;)— Armandus (@Arrmandus) June 19, 2020
Some of the advantages that Hyliion is proud of are:
- Lowest total cost of ownership (compared to Tesla, Nikola…)
- Strong customer demand with launch partner 1,000 truck pre-order
- Compatible with any Class 8 truck from any manufacturer
- No additional capital required to get to volume production
“We are building solutions that are available today and address the immediate needs of today’s trucking fleets,” said Thomas Healy, CEO and founder of Hyliion. “Hyliion’s solutions were specifically developed to utilize existing infrastructure in an effort to support rapid technology deployment. Our mission is to enable our fleet customers to quickly realize lower carbon emissions and significantly lower cost of ownership benefits provided by our technology.”
Will HYLN stock run like NKLA ?
HYLN stock price probably won’t surge like NKLA did but something is telling me that it will not stay at $14.00. Also, have in mind that investors who enter prior to ticker change will be the ones with the biggest profits.