Hennessy Capital Investment V in an 8-K filing said it will revise deal terms with Plus, a self-driving truck company. Any vote on the transaction will likely be delayed beyond the Nov. 8 “outside date” in the merger agreement.
The SPAC did not offer specfics for the deal revisions, stating in the filing, “In light of recent developments in the regulatory environment outside of the United States, HCIC and Plus have agreed to enter into discussions to pursue a potential restructuring of the business combination.”
Plus counts Chinese state-owned automakers Shanghai Automotive Industry and First Automobile Works Group, one of China’s largest truck manufacturers, among its early investors.
Hennessy in the filing said Plus “has not received any inquiries or notices of investigation from any governmental or regulatory authorities and no permissions requested by Plus from a Chinese government entity have been denied.” Read more.
