Xos, a leading manufacturer of fully electric commercial vehicles, announces its participation in several investor events from March 9-26, 2021. These include the Baird Vehicle Technology and Mobility Conference and the Piper Sandler Electric Truck Day. Xos is also in a definitive merger agreement with NextGen Acquisition Corporation (NGAC), expected to close in Q2 2021, leading to trading under the ticker 'XOS' on NASDAQ. Xos focuses on medium- and heavy-duty electric vehicles, promising efficiency and zero emissions for commercial fleets.
Xos, Inc. and NextGen Acquisition Corp. (NGAC) have announced a definitive business combination agreement that will see Xos become a publicly traded company under the ticker symbol 'XOS' on Nasdaq. The merger, valued at $2 billion, is expected to provide $575 million in gross proceeds and enhance Xos's capacity for electric commercial vehicles. Xos's technology is designed to meet the growing demand in the $100 billion market for medium- and heavy-duty electric vehicles. The deal is anticipated to close in Q2 2021, pending shareholder and regulatory approvals.