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NGAC Stock: 13 Things to Know About NextGen Acquisition and a Potential Xos Trucks SPAC Merger

NextGen Acquisition (NASDAQ:NGAC) stock is flying high on Monday following rumors that the special purpose acquisition company (SPAC) is planning to take Xos Trucks public via a merger.

The letters "M&A" on a wooden table, surrounded by a calculator and other business items. mergers and acquisitions

Source: Shutterstock.com

Here’s everything investors need to know about SPAC merger talks and the two companies at the source of them.

  • Recent reports claim that NextGen Acquisition is in talks with private investment in public equity (PIPE) investors to raise money for the merger.
  • This could have the SPAC merger valuing Xos Trucks at $2 billion.
  • Being that these merger talks are still just rumors, some of the finer details are still unclear.
  • That includes what ticker NGAC stock would change to afterward or the combined company’s name.
  • Even with details being murky, it might not be long before NGAC stock investors learn more about the merger.
  • Sources behind these recent rumors claim that the companies could announce the SPAC merger as early as this month.
  • NextGen Acquisition is a blank-check company created to take another company public via a merger.
  • It’s only been on the public market for a short period of time after completing its initial public offering (IPO) in October.
  • The company raised a total of $375 million from its IPO and an Over-Allotment in November.
  • The co-founders of NextGen Acquisition are George Mattson and Gregory Summe.
  • Both of these men have long histories in the investment field and have worked for Goldman Sachs (NYSE:GS)
  • Xos Trucks is an electric vehicle (EV) company focused on creating a new fleet of delivery vehicles.
  • Its partners include Loomis and United Parcel Service (NYSE:UPS).

NGAC stock was up 30.2% as of Monday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/02/ngac-stock-13-things-to-know-about-nextgen-acquisition-and-a-potential-xos-trucks-spac-merger/.

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