Lightning eMotors stock gains 10.49% in NYSE debut
LOVELAND — Lightning eMotors Inc. (NYSE: ZEV) debuted on the New York Stock Exchange Friday after completion of the company’s merger with GigCapital3 Inc., with the company’s stock gaining 10.49% in its first day of trading, closing at $8.64.
The Loveland-based electric-vehicle company announced Thursday that it had finalized its merger with GigCapital3, assuming the publicly traded status of the special-purpose acquisition company, or SPAC. A SPAC is a shell entity formed with the intention of going public, then merging with another company, enabling that company to go public without its own initial public offering.
With the deal, Lightning eMotors’ ticker symbol…
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