The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, UBS has initiated coverage on several less-than-truckload carriers, and it is seeing favorable conditions moving forward for the sector. Plus, U.S. Xpress executives see the fundamentals for a strong freight market staying in place well into 2021, and a new SPAC is targeting transportation and logistics companies in America’s heartland.
LTL’s sunny forecastThe less-than-truckload carriers got...
Shareholders of a blank check company voted Thursday to approve a reverse merger that provides startup Lordstown Motors Corp. (LMC) more money than it needs to build a commercial fleet-focused electric pickup truck at a former General Motors (NYSE: GM) car plant in Lordstown, Ohio.
The closing of the business combination between Diamond Peak Holdings Corp. (NASDAQ: DPHC) and LMC is expected Friday. The DPHC ticker will be replaced on Monday by the LMC ticker RIDE.
The deal went from announcement...
https://www.freightwaves.com/company-will-begin-ride-of-its-public-life-in-nasdaq-trading-on-monday
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Knight-Swift has upped its earnings outlook for 2021 even as experts are predicting a difficult fourth quarter to forecast. Plus, Kenan Advantage Group could be for sale and autonomous vehicle startup Aurora adds executive firepower.
Setting a standardKnight-Swift Transportation Holdings Inc. (NYSE: KNX) has issued its 2021 guidance more than a quarter ahead of usual. And the expectations are...
https://www.freightwaves.com/news/the-daily-dash-a-wild-q4-and-even-better-times-ahead
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 spendSPACs 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...
Reacting to the stunning series of events that culminated in the resignation of Nikola Corp. (NASDAQ: NKLA) Executive Chairman and founder Trevor Milton on Monday, venture capitalists said the challenges facing the embattled electric truck company call attention to the symbiotic but risky relationship between clean tech startups and special purpose acquisition companies (SPACs), the alternative form of financing Nikola used to go public in June.
Investors said also that the scandal, showing few...
https://www.freightwaves.com/news/vcs-weigh-in-on-nikola-controversy
Chris Thomas exudes a quiet intensity when he speaks about how he identifies the mobility-focused startups he is seeking for his new fund, Assembly Ventures.
He wants to coach as much as invest. He wants to leverage more than a decade of relationships with C-suite executives to neutrally arrange engagements and marriages for the companies Assembly Ventures adopts.
At 42, Thomas has the pedigree. He comes from a middle-class public school upbringing. After attending Michigan State and Yale...
https://s29755.pcdn.co/news/assembly-ventures-seeks-to-turbocharge-young-mobility-companies
As many supply chain managers seek to better manage volatility in truck capacity and move supply chains closer to the end consumer, additive manufacturing, or 3D printing, has gained favor.
In a Wednesday press release, Burlington, Massachusetts-based Desktop Metal Inc. announced plans to go public through a merger agreement with special purpose acquisition company (SPAC) Trine Acquisition Corp. (NYSE: TRNE). The combined entity will be named Desktop Metal Inc. with an estimated equity value of...
https://www.freightwaves.com/news/3d-printing-desktop-metal-going-public-eyes-manufacturing-shake-up
Live from the FreightWaves Carrier Summit, Andrew and Kevin host Ben Gordon, Managing Partner at Cambridge Capital and BGSA, to discuss final mile strategies, recent M&A activity and story stock SPACs.