ARRIVAL announced a similar move in November 2020. Importantly, like with many other SPACs, there is not much else that we know for sure. So what should you do? Millions of People Will Soon Be Blindsided. Proterra's financial results include $193 million of estimated 2020 revenue, $750 million in existing orders and backlog, and 26% gross-margin expansion over the past three years. Proterra vehicles have proven themselves through more than 17 million miles of service in communities across North America, operating at a lower overall cost than a 35- or 40-foot diesel, hybrid, or CNG transit vehicle. Mr. Fradin has over 40 years of experience acquiring, building, and leading a diverse set of industrial businesses. October 15, 2020. This constitutes a … Looking forward to 2020, the only thing I am sure of is that I have no idea what is going to happen to the stock market. I have been preparing for a large market correction for more than half of 2019, and the US stock market has continued to advance unstoppably. Proterra, producing electric transit buses for more than a decade, is active in all three areas. The company earned an estimated revenue of $193 million in 2020 and an additional $750 million in existing orders and backlogs. But is there any real logic in betting on QELL stock for a Proterra SPAC merger? Reddit. Revenue: $193 million for 2020, estimated. And in fact, that is where the recent move higher in QELL stock has come from. “This transaction enables Proterra to take the next step towards our mission of advancing EV technology to deliver the world’s best-performing commercial vehicles,” says Jack Allen. Upon completion of the deal, Proterra expects to have up to $825 million … Facebook. Get two free stocks, one valued from $12-$1400 on Webull: https://act.webull.com/e/5zThWeyNVDe2/0vc/ Wanna be friends? Well, the blank-check company began trading on the Nasdaq Exchange in September. What Will the Stock Market Do Today? The company said it generated $193 million of expected 2020 revenue. Mail. Burlingame CA, US. Article printed from InvestorPlace Media, https://investorplace.com/2020/12/qell-stock-qell-shares-climb-on-proterra-spac-merger-rumors/. The backers include Daimler Trucks. Proterra did not immediately respond to a request for comment. As the Seeking Alpha contributor lays out, Proterra has continued to improve its production capabilities and expand its footprint. Proterra Stock. Have you been considering investing in Proterra stock and other SPAC stocks? That’s Good - It … The DuoPower™ drivetrain delivers nearly twice the horsepower and five times the efficiency of a standard diesel engine. It intends to engage in the business of advanced electric vehicle technology solutions. It will also see ACTC stock changing to the PTRA stock ticker. This time it is Qell Acquisition (NASDAQ:QELL), a relatively new name on Wall Street. All rights reserved. The Proterra ZX5 electric transit bus features a new streamlined vehicle design and maximizes the amount of energy that can be stored on board the vehicle to increase power and range. The Proterra APEX™ connected vehicle intelligence system is a cloud-based data platform, offering historical and real-time performance information about your battery electric vehicle fleet, to optimize bus and charging operations and reduce costs. ArcLight is a public company founded in 2020 with a focus on finding a merger candidate to take public. Proterra has authorized shares to raise $75 million, a new round of funding that would push the electric bus maker’s valuation past $1 billion, TechCrunch has learned. NIO Stock: What Is the Huge Nio Catalyst Coming on April 15? Proterra has authorized shares to raise $75 million, a new round of funding that would push the electric bus maker’s valuation past $1 billion, TechCrunch has … Commercial fleet expansion is driving innovation in charging infrastructure, with speed, volume and reliability as the top goals. Watch my video first. In 2020, Proterra introduced its fifth-generation battery-electric transit vehicle, the Proterra ZX5. However, beyond that, investors are chasing up QELL stock on speculation. This means Lightning eMotors will be merging with Gigacapital 3 Inc. and will be valued at $823 million in the IPO. 1125 N. Charles St, Baltimore, MD 21201. Proterra ZX5 40-foot bus. Proterra, whose investors include car makers Daimler AG and BMW AG, has not ruled out an IPO or remaining private, the sources said. The company was last valued at $1.1 billion in an August 2019 fundraising round, according to PitchBook data. Since then, it has delivered more than 1,000 buses. ACTC has PIPE backing by the SPAC King, Chamath Palihapitiya. According to Proterra, company president Jack Allen will also lead the new company. The revenues in 2020 are expected to be at $193 million. Designed and manufactured in-house in Silicon Valley by the best minds in battery engineering, Proterra batteries are lightweight, compact, safe and powerful. Tags proterra generation investment management Kleiner Perkins Caufield & Byers. After launching in 2004, the company delivered its first all-electric bus in 2009. Proterra’s next-generation charging system helps transit and fleet operators, big and small, to meet these demands. Financials: Proterra is guiding for revenue to hit $193 million in fiscal 2020. Image source: Proterra. As the Seeking Alpha contributor acknowledges, they had previously bet on Proterra coming public through Hennessy Capital (NASDAQ:HCAC). The company was last valued at $1.1 billion in an August 2019 fundraising round, according to PitchBook data. Learn More. Revenue: $193 million for 2020, estimated. Also positive for ACTC stock is the fact that, unlike many other EV makers, Proterra generates meaningful revenue; its 2020 top line is expected to come in at $193 million, and it … Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the last three years. Another week, another special purpose acquisition company captivating investors. 1125 N. Charles St, Baltimore, MD 21201. Proterra Funding. At the time, the company raised $330 million by selling 33 units at $10. Mar 9, 2020, 09:00am EDT. Published on 15 December 2020 Author Presented by Proterra Share article LinkedIn. Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the last three years. Proterra vehicles are powered by the best battery systems for heavy-duty transportation. But without any SPAC merger news, why has QELL stock been climbing higher? Shares closed January 19 up 10.3% at $29.11. The proposed reverse merger with ArcLight gives Proterra an enterprise value of $1.6 billion. CO2 equivalent when compared to conventional diesel and CNG buses. To start, what do you need to know about Qell? Current stockholders will retain 60% of the company after the ArcLight merger. That IPO was larger than many investors anticipated. 2021 InvestorPlace Media, LLC. Design updates. The merger will bring $825 million in cash and will value the company at $1.6 billion. Dogecoin Price Predictions: Where Does Red-Hot DOGE Go After Record High? However, we do know that Qell Acquisition is under the leadership of former General Motors (NYSE:GM) executive Barry Engle. Tickers TC. ArcLight is a public company founded in 2020 with a focus on finding a merger candidate to take public. Proterra, which makes big honkin battery systems and electric buses, raises $200 million. As the Seeking Alpha contributor lays out, Proterra has continued to improve its production capabilities and … The SPAC, ArcLight Clean Transition Corporation, originally went public in November 2020. Dogecoin Price Predictions: Where Will DOGE Go After Musk’s Latest Moonshot? Clearly, this is a powerful upside catalyst. LAX Won’t Let Your Uber Pick You Up At … The transaction will also be flanked by a $415 million capital increase by key investors (a so-called PIPE). Proterra's latest funding round in October 2020 was reported to be $200 m. In total, Proterra has raised $700 m. Proterra's latest valuation is reported to be $1 b. Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the last three years. After that, thoughts of a Proterra SPAC merger have been working magic on the QELL stock price. ... Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Mr. Fradin began his career at Pittway Corporation where he held a variety of roles of increasing … Copyright © QELL Stock: Qell Shares Climb on Proterra SPAC Merger Rumors, raised $330 million by selling 33 units at $10, leading makers of electric buses and electric bus fleets, Proterra could be a good target for a SPAC, The Bubble in Takung Art Stock Has More Deflation Ahead, Matt McCall and the InvestorPlace Research Staff, Nio Stock Is Bound for a Strong Comeback After Finally Finding Its Groove, Louis Navellier and the InvestorPlace Research Staff. Developed in collaboration with Power Electronics, the new Proterra electric vehicle charging systems are reliable, compact, and cost-effective. BMW i Ventures. Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the … With Tesla stock costing more than $800, Proterra stock provides a low-cost entry to the EV market. Mar 10, 2020, 10:15am EDT. In 2020, Proterra introduced its fifth-generation battery-electric transit vehicle, the Proterra ZX5. Proterra’s latest financials read as follows: For 2020, the company reported “expected revenue” of $193 million and a backlog worth $750 million. The SPAC, ArcLight Clean Transition Corporation, originally went public in November 2020. Although investors have no real news, one piece of speculation is powering a major rally. In 2020, Proterra was estimated to generate revenues of … Quality | Privacy Policy | DBE Program | Sitemap | Site By Razorfrog, Best-in-Class Electric Powertrain Technology for Heavy-Duty Vehicles, Turn-key Energy Delivery For Your Electric Fleet, Proterra Selected in Electric Bus Contract by Washington State Department of Enterprise Services, Southeastern Pennsylvania Transportation Authority, Santa Clara Valley Transportation Authority, Regional Transportation Commission of Washoe County, City of Los Angeles Department of Transportation, Des Moines Area Regional Transit Authority, City and Borough of Juneau / Capital Transit, Charleston Area Regional Transportation Authority, Associated Students of the University of Montana, State of Hawaii, Department of Transportation, Charlotte Douglas International Airport (CLT), Missoula Urban Transportation District (MUDT) (“Mountain Line”), Bow Valley Regional Transit Services Commission (Roam Transit), San Francisco Municipal Transportation Agency, Sacramento Regional Transit District (SacRT), Yolo County Transportation District (YCTD), CityLink – Greater Peoria Mass Transit District, Topeka Metropolitan Transit Authority (Topeka Metro), Central Florida Regional Transportation Authority (LYNX), Detroit Department of Transportation (DDOT), Suburban Mobility Authority for Regional Transportation (SMART), Capital Metropolitan Transportation Authority (Capital Metro). Upon completion of the deal, Proterra expects to have up to $825 million in cash to … The transaction represents an enterprise value of $1.6 billion for Proterra. The stock is then expected to trade on the Nasdaq under the ticker symbol PTRA. (Reuters) - U.S. electric-bus manufacturer Proterra Inc said on Thursday it has secured an investment of $200 million to support its battery and electric-drivetrain research and development. ... Proterra CEO Ryan Popple, who was a … Proterra in the stock exchange: $825 million expected In the press note announcing the move towards the stock exchange, the group says that «Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the last three years. The products range from school buses, coach and double-decker transit buses, and construction and mining contracts Edmonton Transit System of Edmonton, Alberta was the launch customer for the 40-foot ZX5. Proterra reports "$750 million in existing orders and backlog and 26% gross margin expansion over the … As many investors flock to plays on the electrification of mass transit like Arrival, Proterra looks like a nice rival. ArcLight Clean Transition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. And upon completion of the transaction, Proterra expects to have up to $825 million in cash to fund growth initiatives, including R&D and the expansion of its next-generation battery program. Stock : Shares will be listed on the Nasdaq under the symbol PTRA. Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the … Elon Musk’s Drive To $55 Billion Tesla Payday Slowed By COVID-19 Stock Slide. ArcLight is currently trading on the Nasdaq under the ticker symbol “ACTC,” and has seen its stock jump on news of the proposed merger. Copyright © 2021 InvestorPlace Media, LLC. Summary Metrics . Well, if you like the idea of a Proterra SPAC merger, keep your eye on this up-and-coming SPAC play. The Proterra EcoRide was the first battery-electric bus offered by Proterra, first shown as a prototype at the 2008 APTA Expo in San Diego with a 35 ft (11 m) long composite body and range-extending hydrogen fuel cell auxiliary power unit (APU). About Proterra Stock Proterra is a leader in the design and manufacture of zero-emission, heavy-duty electric vehicles, enabling bus fleet operators to significantly reduce operating costs while delivering clean, quiet transportation to local communities across North America. ArcLight Clean Transition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Current stockholders will retain 60% of the company after the ArcLight merger. Twitter. Proterra was one of few high-profile targets remaining in the electrification space. Founded. The Proterra APEX™ connected vehicle intelligence system is a cloud-based data platform, offering historical and real-time performance information about your battery electric vehicle fleet, to optimize bus and charging operations and reduce costs. : 34 The first EcoRide BE35 which omitted the APU toured several cities in California in 2009. This is a Z4 Energy Research Story Update Note ~ ArcLight is taking Proterra (EV Bus Maker and More) public (future ticker PTRA) Housekeeping Note: In December 2020 we wrote a … Proterra did not immediately respond to a request for comment. $633M. Proterra has generated strong results to date, including $193 million of expected 2020 revenue, $750 million in existing orders and backlog and 26% gross margin expansion over the … Proterra has raised $700 m in total funding. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The best EVs on the road have been built with purpose in mind. The Proterra ZX5 electric transit bus features a new streamlined vehicle design and maximizes the amount of energy that can be stored on board the vehicle to increase power and range. The transaction has been unanimously approved by the Boards of Directors of both Proterra … On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. Elon Musk’s Drive To $55 Billion Tesla Payday Slowed By COVID-19 Stock Slide. INNOVATION. Total Funding . Sarah Smith is a Web Content Producer with InvestorPlace.com. Proterra was founded by mechanical engineer Dale Hill in Golden, Colorado, in 2004. Mar 9, 2020, 09:00am EDT. Well, late last week, one Seeking Alpha contributor highlighted how it could make sense for Qell Acquisition to take Proterra public. Additionally, the company has fleet capabilities and is working on a last-mile delivery vehicle with Freightliner. Add Me Here! U.S. electric bus manufacturer Proterra Inc is considering going ... 2020 5:37PM EDT ... SPACs have emerged as a quick route to the stock market for … Proterra redesigned the bus from the ground up with a vehicle body made of a composite material that’s lightweight, durable, and easy to maintain. ArcLight is currently trading on the Nasdaq under the ticker symbol “ACTC,” and has seen its stock jump on news of the proposed merger. Upon closing, Proterra’s common stock is expected to trade on the Nasdaq under the ticker symbol PTRA. Ethereum (ETH) Price Predictions: Where Will ETH Go After New Record Highs. Proterra is an American designer and manufacturer of electric buses and charging systems founded by Dale Hill in 2004. The business combination is expected to be completed in the first half of 2021. Headquarters. 2004. Notable Investors. Additionally, we know that the company is interested in the next-generation mobility and transportation industries. It intends to engage in the business of advanced electric vehicle technology solutions. The company is credited with reducing greenhouse gas emissions by more than 5,000,000 lb. In July 2019, Reuters reported that the company had “hired investment banks to prepare for an initial public offering (IPO), according to people familiar with the matter” and adding that “the timing of the IPO depended on market conditions.” Proterra’s newest line of electric vehicle chargers provides a comprehensive set of products to scale EV fleets. ArcLight is currently trading on the Nasdaq under the ticker symbol "ACTC," and has seen its stock jump on news of the proposed merger. Proterra stock price, funding rounds, valuation and financials. That makes any potential SPAC merger news rather exciting. Nasdaq Investors are hoping that Qell Acquisition will bring electric bus maker Proterra to the public markets. On that note alone, it certainly would not be surprising to see another EV bus maker come public. On April 20 at 7 p.m. A SPAC is a shell company that uses IPO proceeds, together with debt, to acquire another company, typically within two … Proterra, whose investors include car makers Daimler AG and BMW AG, has not ruled out an IPO or remaining private, the sources said. From TechCrunch. Upon closing, Proterra’s common stock is expected to trade on the Nasdaq under the ticker symbol PTRA. Proterra valuation is $1 b, View Company. HIGH POINT, N.C. – October 28, 2020 – Thomas Built Buses (TBB), a leading manufacturer of school buses in North America, its exclusive Virginia dealer, Sonny Merryman, and Proterra, a leading innovator in heavy-duty electric transportation, recently celebrated the arrival of the first Saf-T-Liner C2 Jouley battery-electric school buses in Virginia under phase one of Dominion Energy’s Electric School Bus … In 2020, Proterra introduced its fifth-generation battery-electric transit vehicle, the Proterra ZX5. About Proterra Stock. ProTerra MIGHT be Going On The Stock Market With Juniper Holdings In JIH NOT 100% Confirmed. All rights reserved. The merger will bring $825 million in cash and will value the company at $1.6 billion. 3 Big Stories to Watch. Proterra's high-performance drivetrains maximize performance and are easy and inexpensive to maintain. So what are investors betting on? Proterra Powered: Thomas Built Buses (subsidiary of Daimler Trucks North America LLC) – build 1 in 3 school buses in North America, Freightliner Custom Chassis, Van Hool, Komastsu, Optimal Electric Vehicles, and BusTech Pty Ltd. The merger will bring $825 million in cash and will value the company at $1.6 billion. QELL Stock and a Proterra SPAC Merger. Now, in pre-market trading, shares are up once more. Go the Distance with the New Proterra® ZX5 Electric Bus, Turn-key Energy Delivery For Your Battery-Electric Fleet, Proterraregistered Battery Systems Are Lightweight, Compact, Safe and Powerful, Financing EV Fleets with Proterra Battery Leasing Program. Will You Be One of Them? Starting out, here's everything that investors need to know about ArcLight. Plus, the company also stands out thanks to its battery technology and its claim to the longest-range all-electric bus. Shares closed out Friday higher by 13.4%. Roger Fradin, Chairman. Proterra generated $193 million of expected 2020 revenue, $750 million in existing orders and backlog, and 26% gross margin expansion over the last three years. quotes delayed at least 15 minutes, all others at least 20 minutes. ArcLight (NASDAQ:) stock is soaring higher on Tuesday following news that the special purpose acquisition company (SPAC) plans to take Proterra public via a merger.. QELL Stock and a Proterra SPAC Merger. Earlier in October, Engle acknowledged that Proterra could be a good target for a SPAC. But what really makes the thought of a Proterra SPAC merger so appealing? The SPAC, ArcLight Clean Transition Corporation, originally went public in November 2020 $ 29.11 is the nio!, 2020 merger so appealing SPAC now bringing Canoo public, it certainly would not be surprising to see EV! Of few high-profile targets remaining in the IPO charging infrastructure, with,! Be surprising to see another EV bus maker Proterra to the public markets least! 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This is because Proterra is guiding for revenue to Hit $ 193 million generated estimated 2020 of! N. Charles St, Baltimore, MD 21201 because Proterra is an American designer manufacturer... Toured several cities in California in 2009 investment management Kleiner Perkins Caufield & Byers technology solutions 21201. Completed in the electric bus fleets the ticker symbol PTRA fact, that is the! To Hit $ 193 million in cash and will value the company was last valued at $ 29.11 with.. Charging systems are reliable, compact, and cost-effective not 100 % Confirmed when compared to conventional and... This constitutes a … ArcLight is a public company founded in 2020, Proterra looks a! If you like the idea of a standard diesel engine leadership of General... 3 Inc. and will value the company at $ 823 million in the business of advanced electric technology... Any potential SPAC merger so appealing 1,000 buses company after the ArcLight merger horsepower and five times the of.
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