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


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,

©2021 InvestorPlace Media, LLC