Vince Cubbage, CEO and chairman of Tortoise Acquisition, said: Over the past 15 months since our IPO, we have evaluated more than 200 companies looking for the ideal opportunity where our expertise and capital could be the catalyst needed to unlock the full potential of a high-growth business. His mission is to bring hybrid technology to tractor-trailers. In fact, more than a few will likely be making room on their bedside tables for Cakebread’s soon-to-be-released The IPO Playbook: An Insider’s Perspective on Taking Your Company Public and … IPOs can take months, if not years, of working with underwriters and auditors. It will use these funds for commercialization, production and operation growth. Rather than sell a new system, these companies can retrofit Hyliion’s technology to their vehicles. None of the capital raised in the PIPE offering was passed out to the investors, making this combination different from the reverse merger that created electric/fuel-cell truckmaker Nikola Corp. (NASDAQ: NKLA). This has investors wondering if Hyliion stock will follow Nikola stock. Tesla and Nikola are developing new, independent products. Subscriber That should help steady the share price. Vince Cubbage, CEO and chairman of Tortoise Acquisition, said: Over the past 15 months since our IPO, we have evaluated more than 200 companies looking for the ideal opportunity where our expertise and capital could be the catalyst needed to unlock the full potential of a high-growth business. These types of stocks are best left to the momentum traders, institutional prop trading algorithms, and the amateur traders on Robinhood, half of which will likely end up holding the bag. Hyliion is the industry leader in Class 8 electrification. Hyliion plans to introduce the first carbon-negative solution. This comes after the successful merger and public debut of rival Nikola. The stock closed Thursday at $44.91 and opened Friday at $39.99. Hyliion designs, develops and sells electrified powertrain solutions. That's why we created “The Nanalyze Disruptive Tech Portfolio Report,” which lists 20 disruptive tech stocks we love so much we’ve invested in them ourselves. But instead of a traditional Hyliion IPO, the company is going public with a reverse merger. They’ve sold some of these, but they don’t say how many. A Hyliion IPO is coming to the markets. They then use that money to acquire a private company – in this case, Hyliion. Her fortune came from Hyatt hotels; his came from Montgomery Ward. Instead, start to look for red flags or anything that might disqualify the stock from being something you would consider investing in. According to Hyliion’s presentation, it also outperforms both Tesla and Nikola in other metrics. If the Hyliion IPO follows Nikola’s steps, Hyliion stock has big potential to reward shareholders. Paired with a lighter design, greater payloads will lead to more profitable truck routes. You may also hear this referred to as a “SPecial Acquisition Company” or SPAC. It will have a market value of more than $1.5 billion. According to Hyliion’s presentation, it also outperforms both Tesla and Nikola in other metrics. This has investors wondering if Hyliion stock will follow Nikola stock. Your email address will not be published. The company announced it would merge with Tortoise Acquisition. Courtesy of Hyliion, Healy does have one thing in common with Musk, though — a workaholic tendency. We found that exceptional company with Hyliion—with a market-disruptive business plan, transformational product, and remarkable founder and CEO. One thing that was seriously overlooked by Hyliion is the news section of their website which contains some absolute garbage by any standards. Whether you’re a beginner or an inexperienced investor, there’s something for everyone. It’s full of useful tips and research from our experts. It works by recycling natural gas. Save my name, email, and website in this browser for the next time I comment. Based on what we’ve gathered so far, a whole bunch of morons out there are touting this as “the next Tesla” or “the next Nikola,” or whatever it is that appeals to the irrational Robinhood trader types. Sign up for our free e-letter below! Your email address will not be published. We're all focused on electrification, but each one of us is taking just a little bit different of a path. Required fields are marked *. Class 8 trucks include cement trucks, dump trucks and freightliners. The company announced it would merge with Tortoise Acquisition. But Healy said the countless hours he spent working with and using race cars gave him the idea for Hyliion's unique product — an electric engine for existing diesel trucks powered by natural gas. That was one of the more tame things on there right now. In order to make their shares available to the public, they’re merging with a SPAC called Tortoise, and raising $525 million at a valuation of $1.5 billion. This comes after the successful merger and public debut of rival Nikola. Looks like they may have plugged in some news scraping algorithm incorrectly and pulled in every single mention of their company and posted it as a “press” mention. Now Hyliion is coming to the stock market. And you’re likely interested in the following information…. He also led it through a merger with a SPAC, or a special purpose acquisition company, also known as a "blank check" acquisition fund, which is designed to facilitate sudden public listings such as Hyliion's. Class 8 trucks include cement trucks, dump trucks and freightliners. But as retail investors, we think this stock presents far too much risk for reasons other than the business plan. But Nikola pursued the same path earlier this month. The SPAC, which came public at $10 in April, once traded as high as $58.66 following the announcement of its combination with Hyliion. Here’s what we know…. The two companies are also embroiled in a lawsuit over patent infringement. Hyliion isn’t the only company trying to fight carbon emissions. It delivers products for current use. Following a one-day delay, Hyliion Holdings Corp. (NYSE: HYLN) completed its reverse merger combination with Tortoise Acquisition and began trading Friday morning. Hyliion Inc. (Hyliion), a leader in electrified powertrain solutions for Class 8 commercial vehicles, and American Natural Gas, Inc. (ANG), an industry-leading alternative fuel provider, … Hyliion's model works within the existing trucking space, reducing the cost of new clients by making a product that can be retrofitted inside semis that fleets already had the infrastructure to maintain. When trying to assess the merits of any given stock, don’t go read all the rosy pictures that are painted by the company investor relations team. And unlike top competitors Tesla and Nikola, Hyliion has managed to get semis on the road and running. Hyliion (pronounced Hi-LEE-on) CEO Thomas Healy founded the company in 2015. "From my end, it's thrilling and fascinating to be able to say that now my job is getting to actually work on automobiles and trucks and take what was a hobby and actually convert it into a job," Healy said. For example, both Nikola Motors (NKLA) and Virgin Galactic (SPCE) have gone public using SPACs, and in both cases, their shares have been bid up to levels that were (or in Nikola’s case, still are) very difficult to justify. When asked how many hours he puts in at the office, Healy replied, "You don't want to know. Hyliion stock will trade on the NYSE under the ticker symbol HYLN. His mission is to bring hybrid technology to tractor-trailers. Hyliion IPO Announced via Tortoise Acquisition Merger. This means that sometimes things will get overlooked. TikTok IPO: Will ByteDance Go Public in 2020? Sign up for Insider Transportation. An island in the Caribbean is his most in-demand location. Hyliion’s technology tackles one of the biggest pain-points for the logistics and transportation industry: how to lower emissions without having to fully replace all existing assets and infrastructure – a move that is cost-prohibitive for many companies. Despite his newfound riches, Healy said his lifestyle hasn't changed. The deal includes an upsized $325 PIPE at $10 per share.
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