Meet your next electric vehicle-SPAC superstar: XL Fleet skyrockets on day two

Dec. 23, 2020 10:40 AM ETSpruce Power Holding Corporation (SPRU)SPRUBy: Clark Schultz, SA News Editor23 Comments
  • XL Fleet Corp. (XL +44.4%) is off and running after the company closed on its SPAC merger yesterday.
  • XL Fleet received ~$350M in cash proceeds through the transaction, which it plans to use to enhance its position in fleet electrification through the development of new products, including all electric and Class 7-8 solutions, as well as further the deployment of the XL Grid charging infrastructure division and its complete Electrification as a Service offering.
  • The buying frenzy on XL Fleet has already triggered an exchange halt due to volatility.
  • Seeking Alpha's Stocks to Watch column tipped off the SPAC-EV upside to readers a while back.

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