Workhorse Shareholders Approve SPAC Merger
Workhorse shareholders have approved the SPAC merger with DraftKings' parent company, Diamond Eagle Acquisition Corp.
According to a statement from Workhorse, the merger is expected to close in the coming weeks, subject to the satisfaction of customary closing conditions.
"We are excited to take this important step towards becoming a publicly traded company," said Steve Burns, CEO of Workhorse.
The merger is valued at approximately $1.25 billion, and Workhorse will become a publicly traded company listed on the Nasdaq stock exchange under the ticker symbol WKHS.
Workhorse has been working to develop electric delivery vans and has partnerships with major companies such as UPS and FedEx.
The company has also been involved in the development of electric aircraft, with the goal of creating a fleet of electric planes for commercial use.
The merger with Diamond Eagle Acquisition Corp. is expected to provide Workhorse with the necessary funding to continue its growth and development plans.
"This transaction represents a significant milestone for Workhorse, and we are eager to continue our mission of making electric vehicles and aircraft a reality," said Burns.
- Workhorse will become a publicly traded company listed on the Nasdaq stock exchange under the ticker symbol WKHS.
- The merger is valued at approximately $1.25 billion.
- Workhorse has partnerships with major companies such as UPS and FedEx.
- The company is developing electric delivery vans and electric aircraft for commercial use.
"We believe that Workhorse has a compelling vision for the future of transportation, and we are excited to partner with them on this important journey," said Jason Ader, CEO of Diamond Eagle Acquisition Corp.
Author's summary: Workhorse, a leading manufacturer of electric vehicles, has secured significant funding through a SPAC merger with Diamond Eagle Acquisition Corp., paving the way for the company's continued growth and development of sustainable transportation solutions.
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