ZEV - Lightning eMotors 01:15 AM - Feb 18 2021
by: Maverick

$GIK finally made a move today!  5.00 on those warrants. 🔥

Just need the filings to hit...
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ZEV - Lightning eMotors 22:21 PM - Jan 06 2021
by: Maverick

GIK - Lightning eMotors - 200 Vehicle Order + Updated Merger Timeline

200 vehicle order:
businesswire.com/news/home/202...

Note about merger - this is an update from 1H to 1Q 🔥
Lightning eMotors' pending business combination with GigCapital3 remains on track for an expected closing in the first quarter of 2021

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ZEV - Lightning eMotors 21:17 PM - Dec 27 2020
by: Maverick

GIK - Lightning eMotors - DD (December 2020)

O/S: 25M
Trust: 200M

Target announced: December 10, 2020
Target: Lightning eMotors
Website:
lightningemotors.com
Sector: EV (medium duty commercial trucks right now)
Investor Presentation: lightningemotors.com/wp-conten...
Future Ticker: ZEV
Closing (est): 1H 2021 (April/May, I'd guess)

O/S Post-merger:  Around 130M (see notes below)

The Hotness: 
  • Low valuation on merger @ 10.
  • Lightning eMotors’ significant time-to-market advantages over competitors have enabled the Company to capture a diverse base of blue-chip fleet customers, including Fluid Trucks, ABC Companies, ACE Parking and California State Hospitals. Currently, Lightning eMotors has a contracted order backlog of approximately 1,500 vehicles for delivery in 2021 and 2022, including the world’s first fuel cell electric Class 6 truck. Lightning eMotors has the country’s largest commercial zero-emission fleet vehicle manufacturing facility in the U.S. with annual production capacity of 1,000 vehicles today and expanding to 3,000 in 2021 and over 20,000 by 2025.
  • Flexing with Amazon delivery trucks in their investor presentation
  • US based, partners with Romeo, Ford, etc

Highest Revenue Visibility Among Peers
 2021 fully contracted under binding contracts
 $800mm pipeline provides predictability beyond
Order Acceleration in Q3 2020 – EV Adoption at an Inflection Point
 California fully committed to rapid electrification
 Secured $120mm in large repeat binding orders from existing customers

Important Notes:
  • They have a $100M convertible in there - it's convertible at 11.50, which is another 8.7M shares.  Will happen.
  • There will be another 20% shared issued on stock moving to 12,14,16 after 20 of 30 days trading above those prices, so I think we're looking at around 130 o/s in the end?
  • This is a slightly more complicated transaction than normal SPAC, imo - which is why I think it's slated for 1H2021 instead of 1Q2021.
  • Comparable to XL Fleet (aka PIC) on revenue growth, damn near the same but this is a bit sexier

I like this one.  I'll be taking a position for sure, but there's a lot of time on the clock for this one.
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ZEV - Lightning eMotors 23:04 PM - Jan 01 2021
by: Maverick

GIK - Lightning Motors - S/4 Filed (Dec 31, 2020)


Filing after hours on Thursday --
sec.gov/Archives/edgar/data/18...

This starts the countdown to the merger vote date.

CEO is offering some time ranges on dates, but I think we're realistically looking at early March on merger vote.
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Lightning eMotors - ZEV

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