Xl fleet merger vote November 14, 2024. Dec 22, 2020 · XL Fleet announced that it has completed its merger with Pivotal Investment II. PIC Pivotal a publicly traded special purpose acquisi Dec 22, 2020 · XL Fleet (NYSE:XL-OLD) has completed its previously announced merger with Pivotal Investment Corporation II (PIC). II, a publicly traded Special Purpose Acquisition Company (SPAC). On March 3, 2021, short seller Muddy Waters published a report about XL Fleet entitled “XL Fleet Corp. All About the XL Fleet SPAC Merger. Dec 22, 2020 · XL Fleet (the “Company”), a leader in vehicle electrification solutions for commercial and municipal fleets, today announced that it has completed its previously announced merger with Pivotal Investment Corporation II (NYSE: PIC) (“Pivotal”), a publicly traded special purpose acquisition company. Aug 17, 2020 · XL Fleet will have 350 million in cash on the balance sheet post-merger with no debt. The statements about XL Fleet’s sales pipeline and its connection to XL Fleet’s Mar 14, 2021 · XL Fleet was formed by a December 22, 2020 merger of Pivotal and XL Hybrids, Inc. S. Read more → Mar 8, 2021 · XL Fleet formed via merger of XL Hybrids, Inc. with more than 52,000 subscribers Acquisition is cornerstone of XL Fleet’s new Sep 18, 2020 · XL is a leading provider of electrified powertrain solutions for U. But investors shouldn't think they've missed the boat. , and are seeking to serve as co-lead counsel for the proposed shareholder class. 21. 2 Firms Want to Lead, Combine XL Fleet Merger Suits in Del. 04, 2023 (GLOBE NEWSWIRE) — The Shyft Group, Inc. Aug 14, 2024 · PIC shareholders vote today on the merger with electric vehicle maker XL Fleet, in the latest SPAC IPO that is fueling EV fund raising. (NYSE: XL): More SPAC Trash” . Sept. XL Fleet plans to use the approximately $350 million in cash proceeds from the transaction to develop products to accelerate the electrification of fleet vehicles. According to the SEC’s order, XL Fleet publicly claimed to have a more than $220 million 12-month sales pipeline, which purportedly backed its near-term revenue Sep 21, 2020 · The XL Fleet SPAC merger is looking to ride that wave, as the company provides hybrid and plug-in hybrid electrification systems for commercial trucks. m. , Jan. 75 million. Sep 28, 2023 · $75 million for 2021. In connection with the merger and related private placement, XL Fleet received approximately $350 million Dec 11, 2020 · InvestorPlace - Stock Market News, Stock Advice & Trading Tips The year may be winding down, but it seems like SPAC merger news continues to h Mintz represented XL Fleet in its merger with Pivotal Investment Corp. and Pivotal Investment Corporation II, which closed on or about December 22, 2020. The combined company commences trading today under the new name 'XL Fleet Corp Based on the share price that day, the pro-forma market value of the combined company is approximately $2. Sep 12, 2022 · Completed acquisition of Spruce Power from funds managed by HPS for total cash consideration of approximately $58 million and the assumption of approximately $542 million of debt on September 9, 2022 Spruce Power is the largest privately held owner and operator of residential rooftop solar systems in the U. Pivotal and XL Fleet also publicly stated that XL Fleet generated its revenue projections, including up to $1. and Canada and expects they will require at least 100,000 charging stations in the next several years based on their growing demand Dec 16, 2020 · About XL Fleet. Dec 22, 2020 · Pivotal Investment Corporation II (NYSE:PIC) announced that it has completed its combination with EV company XL Fleet and the shares and warrants of the combined entity are expected to begin trading today on the NYSE under the symbols “XL” and “XL WS,” respectively. Just ten weeks later, Muddy Waters Research issued a report revealing that the proxy statement, which Pivotal investors relied on when determining how to vote on the merger, contained false and misleading information, while also omitting material information about Legacy XL’s value. Tod Hynes, XL Fleet Founder and Chief Strategy Officer, added, “Since announcing the merger in September, XL Fleet has maintained our strong momentum, achieving record quarterly revenues, launching our XL Grid charging infrastructure division, expanding our plug-in hybrid electric product line onto GM vehicles and securing meaningful new Jan 4, 2023 · NOVI, Mich. The transaction was approved by Pivotal’s stockholders Dec. ” which remains listed on the New York Stock Exchange under the ticker symbol “XL” (NYSE: XL). Grant & Eisenhofer PA and Cohen Milstein Sellers & Toll PLLC have agreed to a stipulation that would consolidate two lawsuits filed in Delaware Chancery Court over a $1 billion merger that created XL Fleet Corp. XL makes electric hybrid vehicles. Dec 8, 2020 · NEW YORK-- (BUSINESS WIRE)--Pivotal Investment Corporation II (NYSE:PIC) (“Pivotal”), a publicly traded special purpose acquisition company, today announced that its annual meeting of stockholders Dec 9, 2020 · Shares of special purpose acquisition company (SPAC) Pivotal Investment II (NYSE: PIC) were up more than 11% as of 9:45 a. 8 billion. The report makes several assertions against XL Fleet; among other things, the report states that the company is “duping Sep 28, 2023 · XL Fleet, which provided hybrid electric vehicle systems for commercial fleet vehicles, went public through a 2020 merger with a special purpose acquisition company (SPAC). and Canadian commercial fleet vehicles built by Ford, Chevrolet, GMC, and Isuzu Thousands of XL units already on the road and November 21, 2021. (NASDAQ: SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced it has successfully completed the acquisition of XL Fleet as planned and initially announced by The allegations of misrepresentations focused on three areas: (i) the failure to disclose the actual net cash per share available to contribute to the Merger; (ii) Defendants’ failure to conduct due diligence of XL Fleet in connection with the Merger; and (iii) the failure to disclose XL Fleet’s true valuation and the numerous problems Jul 25, 2023 · The merger closed on December 21, 2020. In addition, the transaction resulted in the combined company being renamed “XL Fleet Corp. XL in investor presentations on the deal has said it expects to post revenue of $21 million this year, expanding to $281 million in 2022. Pivotal was a special purpose acquisition company incorporated for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business . XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets in North America, with more than 140 million miles driven by customers such Sep 24, 2020 · XL Fleet plans to merge with a SPAC called Pivotal Investment Corp. So what do you need to know Dec 9, 2020 · Pivotal Investment Corporation II announced that its annual meeting of stockholders to consider the merger agreement with XL Fleet has been set for Dec. Dec 21, 2020 · InvestorPlace - Stock Market News, Stock Advice & Trading Tips The shares of Pivotal Investment (NYSE:PIC) were up more than 21% after the ope System Brought to Market Within Six Months to Meet Growing ; Opportunity Pipeline for Hybrid Medium Duty Applications; BOSTON, December 16, 2020 – XL Fleet (the “Company”), a leader in vehicle electrification solutions for commercial and municipal fleets, today announced that it has expanded its line of electrified powertrains to include a hybrid electric drive system for the Class 5 Dec 1, 2020 · XL Fleet currently has over 200 fleet customers across the U. 4 billion by 2024, in part by applying a historical “conversion rate” of one-third of its sales pipeline. 4 billion in sales three years out, estimates the SEC called XL Fleet Completes Transformational Acquisition of Spruce Power. 12, 2022. Dec 21, 2020 · The shares of Pivotal Investment (NYSE: PIC) were up more than 21% after the opening bell ahead of a shareholder vote on the SPAC merger of the company with XL Fleet. Oct 4, 2023 · XL Fleet, in its public filings ahead of the merger, claimed it had a 12-month pipeline of $220 million in sales and projected $1. II (ticker: PIC), with Pivotal shares converting to shares in XL Fleet by the end of the year, under the ticker XL. 3. EST Wednesday after the company set a date for a shareholder vote on Dec 28, 2020 · XL Fleet, a leader in vehicle electrification solutions for commercial and municipal fleets, today announced that it has completed its previously announced merger with Pivotal Investment Dec 11, 2020 · That is because Pivotal Investment shareholders will also take a vote that day on the XL Fleet merger. If all goes well, XL Fleet would then start trading on the NYSE under the ticker XL. XL Fleet common stock and warrants begin trading today on the NYSE under “XL” and “XL WS”, respectively. Investors in a December 2020 blank-check company merger that took hybrid-car retrofit venture XL Fleet public have preliminarily settled a four-count fiduciary duty breach suit in Delaware’s Court of Chancery for $4. bukjmscj gchc sbjhv fegf mbckg atq ajux ldtr mfugujx akkih ajwwz eebpdc uccmhe oxxjko gglatui