Self-driving truck startup Plus is in advanced talks with a few SPACs for a merger, as it seeks to bankroll its expansion in the autonomous driving industry, Bloomberg reports, citing people familiar with the matter.
The Sequoia Capital-backed company has received several letters of intent from U.S.-listed SPACs and is weeks away from a deal announcement, the people said. The SPACs range in size from $300 million to $500 million, and Plus is planning to set its valuation range later this month. Read more.
