InvestorsObserver
×
News Home

Hennessy Capital (HCIC) Stock Rises After Rumors of SPAC Deal

Friday, April 30, 2021 11:06 AM | Kyle Depontes

Mentioned in this article

Hennessy Capital (HCIC) Stock Rises After Rumors of SPAC Deal

What is going on with HCIC?

Hennessey Capital (HCIC) stock rose today after rumors of a deal emerged that would see the SPAC merge with Plus, a self-driving truck startup. Plus would net around $500-$600 million through the deal, and could potentially see another injection of funds through a Blackrock PIPE (private investment in public equity). Blackrock is an investor in HCIC.

The Hennessy SPAC raised $345 million in a January initial public offering. Shares of HCIC increased 1.1% to $10.01 as of Friday at 10:42am.

What does this mean for Hennessey Capital?

HCIC's potential deal with Plus could be a breakthrough for the company, as it would allow HCIC to partner with someone in the potentially lucrative autonomous vehicle space. The California based Plus is among a number of companies trying to utilize driverless technology in the long-haul trucking space. Plus already works closely with Chinese company SF Holding, which uses Plus trucks that cover 932 miles a day.

Although no parties involved have commented, sources say a deal could be reached as soon as next week.

Overall Score - 14

HCIC has an Overall Score of 14. Find out what this means to you and get the rest of the rankings on HCIC!

Hennessy Capital Investment Corp V is a blank check company.

You May Also Like

Get the InvestorsObserver App

InvestorsObserver App
iOS App Android App