Xos Registration Statement Related to Business Combination With NextGen Acquisition Corporation Declared Effective by SEC
NextGen (News - Alert) Acquisition Corporation (NASDAQ:NGAC) ("NextGen") today announced its Registration Statement on Form S-4 in connection with the previously announced business combination (the "Business Combination") with Xos, Inc. ("Xos" or the "Company"), a leading manufacturer of fully electric Class 5 to Class 8 commercial vehicles, has been declared effective by the Securities and Exchange Commission (the "SEC (News - Alert)").
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NextGen has set August 18, 2021 at 9:00 a.m. Eastern time for a special meeting of stockholders to approve the proposals associated with the Business Combination. The proxy statement to its stockholders is available at: https://www.sec.gov/Archives/edgar/data/1819493/000121390021039526/f424b30721_nextgenacq.htm.
NextGen stockholders of record as of the close of business on July 2, 2021 will be mailed the proxy materials in connection with the Business Combination and will be entitled to vote at the special meeting. The boards of directors of Xos and NextGen have unanimously approved the Business Combination.
"We are pleased to have achieved this milestone and to announce a date for the Special Meeting of NextGen stockholders," said George Mattson, Co-Founder and Co-Chairman of NextGen. "As we enter the final stages of consummating our merger with Xos, we look forward to bringing Xos to the public markets and working closely with the new Xos to realize its ambitious and achievable vision to decarbonize commercial fleets."
"2021 has been a year of tremendous growth for us," said Dakota Semler, Co-Founder and CEO of Xos. "We broadened our customer relationships and deepened important partnerships. We invested in key hires, and launched new business units. Our merger transaction will accelerate our goal of a zero-emissions future by allowing Xos to introduce electric vehicles and fleet support networks to more locations in the US and abroad."
Subject to stockholder approval and other customary closing conditions identified in the business combination agreement, the Business Combination is expected to close as soon as practicable following the special meeting.
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