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After its deal with Northern Genesis Acquisition (ticker: NGA), Montreal-based Lion will also have nearly $500 million in cash to build a second production facility capable of producing more than 20,000 units annually as well as vertically integrate into the design and assembly of the battery modules and packs powering its vehicles.
Announced on Monday, the merger values Lion Electric at about $1.9 billion. Management expects the deal to close early next year, when the merger is complete Lion will begin trading on the New York Stock Exchange. The stock symbol will change from “NGA” to “LEV.”
After its deal with Northern Genesis Acquisition (ticker: NGA), Montreal-based Lion will also have nearly $500 million in cash to build a second production facility capable of producing more than 20,000 units annually as well as vertically integrate into the design and assembly of the battery modules and packs powering its vehicles.
Announced on Monday, the merger values Lion Electric at about $1.9 billion. Management expects the deal to close early next year, when the merger is complete Lion will begin trading on the New York Stock Exchange. The stock symbol will change from “NGA” to “LEV.”