Self-driving truck startup Plus to go public through $3.3 bln SPAC deal – Reuters
- Date: 11-May-2021
- Source: Reuters
- Sector:Technology
- Country:Middle East
Self-driving truck startup Plus to go public through $3.3 bln SPAC deal – Reuters
Plus said on Monday it would go public through a merger with blank-check company Hennessy Capital Investment Corp. V (HCIC.O) in a deal that values the self-driving truck technology startup at $3.3 billion.
The combined company will get proceeds of $500 million from the deal, including a private investment of $150 million. Investors in the deal include BlackRock (BLK.N) and D.E. Shaw group, among others.
In February, Plus raised $200 million in a funding round, co-led by brokerage Guotai Junan International and private equity firm CPE, according to data from Pitchbook.