Plus, a global provider of self-driving truck technology, announced today it has entered into a definitive business combination agreement with Hennessy Capital Investment V.
Upon closing, Plus common stock is expected to trade on the NYSE under PLAV. The transaction represents a post-combination market capitalization of approximately $3.3 billion for Plus.
The business combination would deliver up to $500 million in gross proceeds at closing, including $345 million of cash held in the SPAC’s trust account from its January IPO. The merger is further supported by a fully committed $150 million PIPE at $10 per share, including investments from funds and accounts managed by BlackRock and the D. E. Shaw group.
Pending shareholder approval, the deal is exepcted to close in the third quarter. Read more.
