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Zero Nox Inc., a leader in sustainable off-highway vehicle electrification, filed a registration statement on Form S-4 with Growth for Good Acquisition Corporation (NASDAQ: GFGD) on April 7, 2023. This filing includes a preliminary proxy statement and prospectus related to their proposed business combination, which has received unanimous approval from both companies' Boards of Directors. The transaction, valued at an enterprise value of $306 million, is expected to close in the second half of 2023, pending customary closing conditions. Upon completion, Zero Nox's stock will trade on NASDAQ under the ticker symbol “ZNOX.” Zero Nox focuses on advanced electrification technologies for off-highway vehicles, aiming to contribute to decarbonization efforts.
ZeroNox, a provider of sustainable off-highway vehicle electrification, is set to become the first publicly listed company in this sector through a merger with Growth for Good Acquisition Corporation (NASDAQ: GFGD). The transaction values ZeroNox at $306 million and will allow its shares to trade under the ticker symbol ZNOX. With a total addressable market estimated at $1.3 trillion, ZeroNox targets industries like agriculture and construction. The company has shown impressive growth, achieving a revenue CAGR of over 200% over the last three years, and is projected to generate $180 million in contracted revenue as it scales its operations.