Hennessy Capital Investment V and Plus File Confidential S-4 on Proposed $3.3B Deal

Hennessey V

Self-driving truck compnay Plus today said a confidential registration statement on Form F-4 was filed in connection with its proposed business combination 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, 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. 

Shares and warrants of the combined company are expected to list on the NYSE under PLAV and PLAV.W. Read more.

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