King & Spalding client Lightning eMotors, Inc. (“Lightning eMotors”) closed its previously announced de-SPAC business combination transaction with GigCapital3, Inc. a special purpose acquisition company (the “SPAC”), pursuant to which the SPAC acquired Lightning eMotors through a reverse merger. Today, Lightning eMotors, Inc. commenced trading on the New York Stock Exchange under the ticker symbols ZEV and ZEV.WS. Upon market open, Lightning eMotors will have a market value of approximately $800 million. Lightning eMotors is a leading provider of specialized and sustainable fleet solutions, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018. A press release announcing the closing of the transaction can be found here.
The King & Spalding team advising Lightning eMotors on the transaction included: Jonathan Melmed, Keith Townsend, Enrico Granata, Michael Hamilton, Rich Fields, Logan MacCuish, Jeanie Cogill, Ted Markson, Kevin E. Manz, Zack Davis, Matt Anderson, Stephen Hong, Ryan Lichtenfels, Lucy Ratchford, and Niko Karetnyi.