NextGen Acquisition Corporation (NGAC) to Combine with Xos in $1.45Bn Deal

NextGen (NASDAQ:NGAC) has entered into a definitive agreement to combine with electric vehicle (EV) maker Xos at an enterprise value of $1.45 billion, or 0.5x its 2024E revenue. Xos makes electric medium and heavy trucks for commercial fleet clients with its first prototypes on the road and full-scale production expected to begin this year. The
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