Know On Closing Of Merger XL Fleet

XL Fleet, a leader in industrial and urban fleets technologies for the electrification of cars,

XL Fleet, a leader in industrial and urban fleets technologies for the electrification of cars, today completed its previously announced merger with the publicly listed special purpose purchase firm Pivotal Investment Corporation II. This deal was approved at the Pivotal Annual Meeting held on 21 December 2020 which resulted in the joint venture being re-named “XL Fleet Corp.” and will be traded under the ticker symbols “XL” and “NYSE: XL WS at https://www.webull.com/quote/nyse-xl-ws ” respectively, at the time of the launch of the market on the New York Stock Exchange, at 22 December 2020.

Product development

XL Fleet obtained nearly $350 million in cash in conjunction with the acquisition and associated private placement. It is expected that these funds will help XL Fleet to advance its position as a fleet electrification leader through new product development, including all solutions for electricity and Class 7-8, the company’s XL Grid charging infrastructure and complete “Electrification as a service” offerings, and to accelerate XL Fleet’s plans to expand internationally.

Today represents a significant step in the direction of the XL Fleet and of our staff, and is a big step in the future of the commercial vehicle industry, converting commercial fleets into a more competitive environment, said Dimitri Kazarinoff, Chief Executive Officer of the XL Fleet Fleet. The NYSE: XL WS Fleet is positioned by our proven goods, a good footprint in the United States and Canada, firm supply chain and deep OEM ties.

Accomplishment 

As our blue-Chip Client Base partner, who acknowledge us as a core partner who helps them effectively and at low cost accomplish their sustainability goals.More than a decade ago, XL Fleet began its quest to meet the increasing need to minimize pollution from commercial and local fleets, said Tod Hynes, President of Xl Fleet. Today this need is greater than ever, and we think that NYSE: XL WS is the trusted name for the electrification of the flood.

One of the most important electricity opportunities. We look forward to expanding the role of XL Fleet leader by helping our clients save money, increase driver efficiency, reduce emissions and decarbonize over their electrical journeys.

A publicly traded special purpose acquisition corporation reported today that, for the purposes of the previously announced merger agreement with XL Fleet, the annual meeting of stock holders (“Annual Meeting”) has been scheduled for December 21, 2020. Record holders are entitled to vote at the Annual Meeting by 7 December 2020.

Even Pivotal said the U.S. In the form S-4 containing a final proxy declaration/prospectus in relation to the Annual Meeting, the Securities and Exchange Commission has found its registration statement to be valid. You can check other stocks like NYSE: AMC at https://www.webull.com/quote/nyse-amc.