USA – US medium-duty battery- and hydrogen fuel cell-electric commercial vehicle manufacturer, Lightning eMotors¹ of Loveland, Colorado, USA and technology, media, and telecom private-to-public equity (PPE) corporation, GigCapital3 Inc, have reached an agreement to combine their businesses, which will result in Lightning eMotors becoming a publicly listed company.

The transaction will see GigCapital3 acquire Lightning eMotors through a reverse merger. The business combination values Lightning eMotors at approximately USD823m². The boards of directors of both Lightning eMotors and GigCapital3 have unanimously approved the proposed business combination, which is expected to be completed in the first half of 2021, subject to approval by GigCapital3’s stockholders and statutory regulatory approvals, including a registration statement being declared effective by the U.S. Securities and Exchange Commission. Once the transaction is concluded, the combined operating company will be named Lightning eMotors Inc and it will be listed on the New York Stock Exchange under the ticker symbol, ZEV.