It is a unique setup that saves truckers’ weight. Hyliion (HYLN) Debuts on the NYSE – What Happens Next? Business Wire AUSTIN, Texas & LEAWOOD, Kan. -- June 19, 2020 Hyliion Inc., a leader in electrified powertrain solutions for Class 8 commercial vehicles, announced today it … Proceeds will be used to fully fund the commercialization and mass production of the company’s electrified powertrain solutions. Hyliion is seeking to disrupt the heavy-duty truck business, but it doesn’t want to build vehicles. The short-haul transportation industry can go EV at a bargain price, and be environmentally friendly at the same time. Our mission is to enable our fleet customers to quickly realize lower carbon emissions and significantly lower cost of ownership benefits provided by our technology.”. Especially as a number of hedge funds have started increasing their positions. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. is serving as legal advisor to Tortoise Acquisition Corp. Hyliion and Tortoise Acquisition Corp. will host a joint investor conference call to discuss the proposed transaction today, Friday, June 19, 2020 at 8:30 am ET. October 6, 2020. As a refresher, Tortoise Acquisition and Hyliion – the company that designs and develops hybrid suspension systems and electrified powertrain solutions for Heavy Duty Class 8 trucks – had announced their plans to undergo a merger back in June 2020. Hyliion will be merging with SHLL stock and the newly combined company will remain on the New York Stock Exchange under the new ticker symbol HYLN. Plus, after the merger hype fizzles out, there is no incentive for the institutions to stay in. SPang@tortoiseadvisors.com. All statements, other than statements of present or historical fact included in this presentation, regarding Tortoise Acquisition Corp.’s proposed acquisition of Hyliion, Tortoise Acquisition Corp.’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. “We are building solutions that are available today and address the immediate needs of today’s trucking fleets,” said Thomas Healy, CEO and founder of Hyliion. With states and countries passing regulatory mandates on future emissions on a regular basis, the demand is there. Tortoise Acquisition (NYSE:SHLL), a Special Purpose Acquisition Company (SPAC), has cleared the final hurdle that was standing between its much-anticipated business combination with Hyliion, the company that develops hybrid suspension systems and electrified powertrain solutions for Heavy Duty Class 8 trucks. This is why the stock is running. However, the merger is still expected to close by the 1st of October. Tortoise Acquisition shares have registered year-to-date gains of over 400 percent. Because people will not want to watch another EV opportunity pass them by. In addition, Tortoise Acquisition Corp. cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Tortoise Acquisition Corp. or Hyliion following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of Tortoise Acquisition Corp., or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts Tortoise Acquisition Corp.’s or Hyliion’s current plans and operations as a result of the announcement of the transactions; (v) Hyliion’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Hyliion to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Hyliion may be adversely affected by other economic, business, and/or competitive factors. Tortoise Acquisition (SHLL) Has Not Cleared the Final Hurdle For Proposal 3 Approval – The Merger With Hyliion Will Still Go Ahead By Rohail Saleem Sep 30, 2020 13:17 EDT © 2020 NewAge ADS, LLC. These negotiations did not seem to have borne fruit as the last remaining proposal has still not been approved by a majority of the SPAC’s stockholders. No Hidden Fees. We have seen what happens with stock price if stockholders decide not to vote. Completion of the proposed transaction is subject to customary closing conditions and is expected to be completed around the end of the third quarter of 2020. Article Related Press Releases ( 1) Stock Quotes (1) Comments (0) June 19, 2020 8:40 AM EDT. This article is not a solicitation or recommendation to buy, sell, or hold securities. Agility, a global logistics company based in Kuwait, has a preorder for 1,000 ERX powertrains. SHLL stock looks to be the better bet over Nikola and why dips should be bought. ET on the 28th of September 2020. It wants to sell its powertrain solutions to existing truck makers. Institutional buying plus reactive retail investors are probably the reason for today’s surge.YIG would like to point out that institutions tend to set the trend, and then retail investors will react. The company’s board will include existing members from Hyliion and Tortoise Acquisition Corp., including Cubbage, Stephen Pang, managing director and portfolio manager at Tortoise Capital Advisors, Ed Olkkola, managing director at Teakwood Capital, Howard Jenkins, former chairman and CEO of Publix Super Markets, and others to be added at a later date. It has a small battery pack that can be charged onboard by a natural-gas-fired generator. Correction: An earlier version of the article had indicated that the transaction will not close on the 1st of October. Please note that the merger has already been approved and the arrangement is still expected to achieve closure on the 1st of October. It remains to be seen when this highly anticipated merger can now achieve closure. In SHLL the smart money is coming from Morgan Stanley, Credit Suisse, UBS, Goldman Sachs, Bank of America, and many more. Also, hedge fund Alberta Investment Management increased its stake from 375,000 shares to 850,000 shares in the last quarter. The information above is not financial advice. Disclosure: We have no position in NYSE:SHLL or any of the securities mentioned. deborah@zitopartners.com Unsubscribe Anytime. There’s already a strong interest in Hyliion. As you can see from the chart below, we have gotten a Nikola like move and we could just be getting started. We have seen what happens with stock price if stockholders decide not to vote. Founder and CEO Thomas Healy will be joined by Tortoise Acquisition Corp.’s Vince Cubbage and Stephen Pang in a newly formed board of directors. For latest tech news in your inbox, once a day! Once the word spreads and SHLL announces the merger date with EV manufacturer Hyliion than investors should flock in the masses. As long as less than 65% of stockholders do not vote, SHLL shares will probably go down on this news. Instead, you post this AT THE VERY END OF LAST trading day before the merger date. It designs, develops, and sells electrified powertrain solutions for Heavy Duty Class 8 trucks from any of the leading commercial vehicle manufacturers, transforming the transportation industry’s environmental impact at scale. Tortoise Acquisition Group (NYSE: SHLL) has made a name for itself on Wallstreet this year as they plan to merge with EV truck innovator Hyliion. Upon the closing of the transaction, the combined entity will be named Hyliion Holdings Corp. and remain on the New York Stock Exchange (NYSE) under the new ticker symbol “HYLN.”. Sign up It’s about time SHLL stock made a move. The main purpose of the meeting is to deliberate and vote upon the merger with Hyliion: “The Business Combination Proposal — To consider and vote upon a proposal to (a) approve and adopt the Business Combination Agreement and Plan of Reorganization, dated as of June 18, 2020 (the “Business Combination Agreement”), among TortoiseCorp, SHLL Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of TortoiseCorp (“Merger Sub”), and Hyliion Inc., a Delaware corporation (“Hyliion”), pursuant to which Merger Sub will merge with and into Hyliion, with Hyliion surviving the merger as a wholly-owned subsidiary of TortoiseCorp and (b) approve such merger and the other transactions contemplated by the Business Combination Agreement…”. danielle@redfancommunications.com The SEC approval of the Nikola merger with VectoIQ lit the fuse to a huge run-up in the shares of VTIQ. The boards of directors of both Tortoise Acquisition Corp. and Hyliion unanimously approved the transaction. Tortoise Acquisition Corp.'s SEC filings are available publicly on the SEC’s website at www.sec.gov. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Hyliion (HYLN) Wins an Order of 250 Hypertruck ERX Vehicles as Well as Discounted RNG Facility for Its Customers From American Natural Gas. As an illustration, Hyliion is expected to generate a revenue of $322 million in 2022 and a whopping $2.1 billion in revenue by 2024. However, the merger is still expected to close by the 1st of October. 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Hyliion to merge with Tortoise Acquisition (NYSE:SHLL) and will be named Hyliion Holdings and remain on the NYSE under the new ticker symbol “HYLN.”. on SHLL closes in on merger date with Hyliion – here’s what you need to know. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.