https://wccftech.com/xos-trucks-is-going-public-by-merging-with-the-spac-nextgen-acquisition-corp-ngac-in-q2-2021/ > Xos Trucks, a manufacturer of fully electric Class 5 to Class 8 commercial vehicles, has become the EV player to opt for the SPAC route in order to go public. > As per the press statement released jointly by Xos Trucks and the SPAC NextGen Acquisition Corp. (NASDAQ:NGAC) just moments ago, the combined company is expected to have an implied pro forma market capitalization of $2.0 billion. Moreover, the transaction would provide $515 million in gross proceeds, including $375 million in trust and a PIPE investment of $220 million.