Self-driving truck startup Plus is in talks to merge with Hennessy Capital Investment Corp. V, Bloomberg reports, citing people familiar with the matter, making it the latest autonomous vehicle maker seeking to go public via a blank-check firm.
Sequoia Capital-backed Plus is set to have a valuation of more than $3 billion and raise $500 million to $600 million through the deal, which includes proceeds from the SPAC and new equity raised, one of the sources told the news organization. BlackRock — already a Hennessy investor — is discussing putting in more money through a PIPE. Read more.
