Northern Genesis Acquisition II announced that the close of business on Oct. 6 has been set as the record date for the determination of stockholders eligible to receive the proxy and vote on the SPAC’s proposed merger with Embark Trucks.
Embark and Northern Genesis 2 announced the deal in June. The transaction calls for approximately $614 million in gross cash proceeds, including $414 million held by the SPAC in trust (assuming no redemptions) and a $200 million fully committed PIPE.
Embark develops self-driving software for the trucking industry.
The SPAC said a proxy statement has not been finalized. Read more.
