Hyliion Holdings Corporation Stock Price, News & Analysis

Hyliion Holdings Corp (NYSE: HYLN) announced that Sherri Baker will become the new Chief Financial Officer effective February 8, 2021, succeeding Greg Van de Vere, who retires after nearly four years. Baker brings extensive experience in financial leadership, having previously served as CFO at PGT Innovations and held various roles at Dean Foods and Frito-Lay. Baker's appointment comes as Hyliion accelerates its commercialization strategy and aims to leverage her expertise to drive profitable growth and enhance shareholder value.

Hyliion Holdings Corp. (NYSE: HYLN) announced the successful exercise of Public Warrants that expired on December 30, 2020, resulting in approximately $142 million in cash proceeds from about 12.5 million shares of Common Stock. Over 98.5% of the Public Warrants were exercised, enabling Hyliion to accelerate investments in technology, talent, and infrastructure. This funding supports partnerships and M&A activity, contributing to Hyliion's mission of reducing carbon intensity in commercial transportation.

Hyliion Holdings Corp (NYSE: HYLN) supports the extension of the Alternative Fuels Tax Credit (AFTC) through 2021, enabling the use of renewable natural gas (RNG) in heavy-duty vehicles. This $0.50 per gallon fuel credit fosters fleet adoption of cleaner technology and aligns with sustainability goals. The recent California Air Resources Board data also indicates RNG vehicles achieving negative emission milestones, positioning RNG as a superior alternative. Hyliion's Hypertruck ERX aims to deliver significant cost savings and emission reductions for fleets, highlighting ongoing government support for clean technology.

Hyliion Holdings Corp. (NYSE: HYLN) announced the exercise deadline for its 12.5 million Public Warrants, set for December 30, 2020. Each warrant can be exercised for $11.50 per share, potentially generating $144 million for the company. The warrants can be redeemed for $0.01 each if the share price exceeds $18.00 for 20 trading days. Unexercised warrants will become void post-deadline. The company has registered the shares under the Securities Act of 1933. Holders are urged to consult their brokers for the exercise process.

Hyliion Holdings Corp. (NYSE: HYLN) has appointed Jose Oxholm as vice president, general counsel, and chief compliance officer, effective November 16, 2020. Oxholm brings over 20 years of experience in the automotive and transportation sectors, having held senior legal roles at companies like LoJack, Ford, and Meritor, Inc. CEO Thomas Healy expressed confidence that Oxholm's expertise in legal and compliance matters will enhance the company's growth and commercialization strategy in electrified powertrain solutions for Class 8 commercial vehicles.

Hyliion Holdings reported its third quarter 2020 financial results following its strategic combination with Tortoise Acquisition Corp., which closed on October 1, 2020. The merger provided Hyliion with approximately $520 million in net proceeds to support growth plans in the electrified powertrain market for Class 8 vehicles. In Q3 2020, Hyliion installed eight hybrid electric units for fleet customers and signed an agreement with FEV North America to expedite the commercialization of the Hypertruck ERX. The CEO emphasized strong interest in their solutions despite the challenges posed by COVID-19.

Hyliion Holdings Corp. (NYSE: HYLN) will announce its third quarter 2020 financial results on November 12, 2020, prior to market open. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss these results and provide insights into the company's business outlook. Hyliion focuses on delivering electrified powertrain solutions aimed at reducing greenhouse gas emissions from Class 8 commercial vehicles. The event will be accessible via a webcast, and an archived version will be available on their Investor Relations page.

Hyliion Inc. has partnered with American Natural Gas to offer discounted pricing for renewable natural gas (RNG) at ANG fueling stations nationwide. This agreement also includes a pre-order of up to 250 Hypertruck ERX vehicles, promoting a net-negative carbon emissions profile. Hyliion's customers will benefit from ANG's commitment to build fueling stations at no upfront cost. The partnership aims to facilitate the transition to electrification by providing access to a cleaner fuel source at significantly lower costs than diesel.

Hyliion Inc. has finalized its merger with Tortoise Acquisition Corp., approved on Sept. 28, 2020. The combined entity will be named Hyliion Holdings Corp., trading on the NYSE under the ticker symbol HYLN. This merger is set to expedite Hyliion's growth and innovation in electrified powertrain solutions for Class 8 commercial vehicles. The transaction brings approximately $560 million in proceeds, aimed at advancing the development of their Hybrid and Hypertruck ERX technologies, designed to reduce GHG emissions and ownership costs.