Ticker LaunchSPAC · Merger completed
Pivotal Investment Corporation II
Business combination with XL Fleet
Pivotal Investment Corporation II is a blank-check company (SPAC) that raised $200M in its initial public offering on Jul 15, 2019, listing on New York Stock Exchange. It completed its business combination with XL Fleet on Dec 21, 2020; the combined company is XL Fleet Corp. (XL). Cantor led the IPO, with BTIG. Graubard Miller advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.
XL Fleet provides vehicle electrification solutions for commercial and municipal fleets in North America. Its customers include The Coca-Cola Company, Verizon, Yale University and the City of Boston, and have driven more than 130 million miles.
- Status
- Merger completed
- IPO date
- Jul 15, 2019
- IPO size
- $200M
- IPO exchange
- New York Stock Exchange
- Target
- XL Fleet (Legacy XL)
- Announced
- Sep 18, 2020
- Stated deal value
- $1B
- Closed
- Dec 21, 2020
- Combined company
- XL Fleet Corp. (XL)
- SPAC counsel (IPO)
- Graubard Miller
- Underwriters' counsel (IPO)
- Ellenoff Grossman & Schole
More on this SPAC for subscribers
- Trust balance and value per share
- Redemptions at each extension and at the merger vote
- Liquidation deadline and extension history
- PIPE and other committed financing
- Merger proxy, registration statement and investor presentation
- Analyst notes from the filings
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Filings
- IPO prospectus (424B4) Jul 15, 2019
- Deal announcement (8-K) Sep 18, 2020
- Press release
- All filings on EDGAR CIK 1772720
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