New SPACs Continue To Drive Electric Vehicle Market
October 05 2020 - 10:32AM
InvestorsHub NewsWire
October 5, 2020 -- InvestorsHub NewsWire -- via pennymillions -- The
special purpose acquisition company (SPAC) end-run around the
increasingly cumbersome traditional continues to drive investor
enthusiasm for the electric vehicle (EV) market. EV battery maker
Romeo Systems today announced going public through a SPAC
merger.
Look for SPAC powered EV momentum to also reach OTC quoted EV
companies. Alternet Systems (ALYI)
saw its PPS soar in the August and September EV market surge from
under a penny to over $0.05 on massive volume. OTC quoted
battery company, Bio Solar (BSRC),
saw its PPS also soar from under a penny to over $0.04 on equally
massive volume.
Reuters reported today:
“Romeo Systems Inc, a battery maker for electric vehicles, will
go public through a merger with blank check company RMG Acquisition
Corp in a $1.33 billion deal, the companies said on Monday.
The deal is expected to raise $384 million for Romeo, which
includes an investment of $150 million from investors such as The
Heritage Group and Republic Services.
Romeo will use the proceeds for capacity expansion and research
& development to further develop battery system technologies
for commercial vehicles, according to a statement.”
See full article - Reuters
Source: pennymillions
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