Qell Acquisition Corp.

Truck Talk: Flying things edition

This week, we go airborne with the Workhorse Horsefly drone, consider a high-flying SPAC for a vertical-takeoff-and-landing jet maker and dive deeper into Cummins’ deal to make medium-duty engines for Daimler Truck.

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Gonna fly now

So much has been made of Workhorse Group’s losing out on the U.S. Postal Service contract for next-generation mail trucks that it was easy to overlook the update on the company’s truck-mounted...

https://www.freightwaves.com/news/truck-talk:-flying-things-edition

Daimler Trucks invests in Proterra electrification SPAC

Proterra Inc., which makes heavy-duty electric transit buses, drivetrains, batteries and charging systems, will go public in a reverse merger with special purpose acquisition company (SPAC) ArcLight Clean Transportation Corp. (NASDAQ: ACTC)

Daimler Trucks, already a Proterra investor and technology partner, is among the financial backers of the deal that will bring $648 million in cash to Proterra when the business combination is completed. 

ArcLight is a so-called blank check company created...

https://s29755.pcdn.co/news/daimler-trucks-invests-in-proterra-electrification-spac

FreightWaves Truck Talk: A ‘SPAC-tacular’ new year

Welcome to FreightWaves Truck Talk, a weekly newsletter adding perspective, context and commentary to industry news and trends. 

The SPAC train keeps on rolling. Odeon Capital is keeping track of the growing hunting party of special purpose acquisition companies (SPACs). It counts 149 suitors seeking business combination targets. Odeon Capital analyst Alex Arnold puts the collective bankroll of blank checks at $57 billion. SPAC Insider lists 248 SPACs filed in 2020. In the first week of the...

https://s29755.pcdn.co/news/freightwaves-truck-talk-a-spac-tacular-new-year

The Daily Dash: A new SPAC is on the hunt; more charges in staged truck accidents investigation

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, another SPAC is on the hunt for a possible acquisition in the transportation space. Plus, Prologis posts strong Q3 earnings and more charges in the Louisiana investigation into staged truck accidents.

What to do when you have money to spend

SPACs have become all the rage, and they seem to be popping up everywhere these days. Qell is the latest, and with $380 million in hand, the shell company is on...

https://s29755.pcdn.co/news/the-daily-dash-a-new-spac-is-on-the-hunt-more-charges-in-staged-truck-accidents-investigation

Birth of a SPAC: Ex-GM executive hunting next-gen mobility target

Former General Motors (NYSE: GM) executive Barry Engle and his team at Qell Acquisition Corp. raised $380 million in less than a month to invest in a next-generation mobility company. Despite a record number of special purpose acquisition companies (SPACs) being formed this year, he still sees plenty of opportunity.

“The number of companies out there for whom this might be a really good alternative is infinitely larger,” Engle told FreightWaves in an interview. “Very few companies looking for...

https://s29755.pcdn.co/news/birth-of-a-spac-ex-gm-executive-hunting-next-gen-mobility-target