Agreed. Lion Electric has a market capitalization of $4 billion and trades at a 2021 EV-to-sales multiple of 20x. Real World Miles Driven: Proterra has driven over 16mm real world miles, no other competition has driven any. Proterra is not only the most undervalued stock on the entire market, it's also positioned to be one of the best performing companies over the next several years. The Company has designed an end-to-end, flexible technology platform that delivers world-class performance and a low total cost of ownership to original equipment manufacturers (OEMs) and end customers. Atlas Crest Investment Corp. (NYSE: ACIC) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more . EDIT 2: This is a fundamental DD. On the date of publication, Mark R. Hake holds a long position in Tesla (TSLA) stock. In addition, the documents filed by ArcLight may be obtained free of charge from ArcLight at https://www.arclightclean.com or by directing a request to: ArcLight Clean Transition Corp., 200 Clarendon Street, 55th Floor, Boston, MA 02116. Proterra has three complementary businesses: Proterra Powered: Delivering industry-leading battery systems and electrification solutions to commercial vehicle manufacturers; Proterra Transit: Leading North America as the markets #1 electric transit bus OEM; and. Subject to the satisfaction of certain other closing conditions, the business combination is expected to close on June 14, 2021, after which Proterra's common stock and warrants are expected to begin trading on Nasdaq on June 15, 2021 under the new ticker symbols "PTRA" and "PTRAW. The warrants have a strike price of $11.50, which translated into an intrinsic value of $17.50 at the time. Most importantly, warrants aren't exercisable until a later date, unlike American-style options that can be exercised at any time. October 19, 2021. It intends to effect a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. And These Metal May Be The Key Element.document.write(''); 0.43Average Auto/Tires/Trucks News Sentiment. The transaction has been unanimously approved by the Boards of Directors of both Proterra and ArcLight Clean Transition Corp. Expected to close "first half of 2021", aforementioned above that predictions expect voting to happen in the last week of March/first week of April. Is ACTC stock still undervalued? Proterra's common stock is expected to trade on the Nasdaq under the ticker symbol PTRA. Archer has already received a $1 billion order from United Airlines. There is some speculation regarding the date; they've already filed the S-4, so the timeline for merger vote looks to be around end of March to April first week . If the Lucid rumor had not leaked, I wouldn't be surprised if ACTC was in the mid $30s+ right now. 1-pager attached. Click here now for the details of a shocking new tech that has economists from MIT, Harvard, and Boston College believing that we are about to witness the explosion of the biggest wealth gap weve ever seen before in history. The detail page will show you the real-time trend, you can click into the MSN Money website for more details Proterra operates manufacturing facilities in California and South Carolina, as well as a state-of-the-art R&D lab in Silicon Valley. $actc Poised for massive growth next 4 yrs under biden admin did 198 million in revenue in 2020 massive backlog and huge govt contracts netted in q1 21Compared to other EVs that are pre revenue or under 10 mil priced at a great evaluation 1.6 billion dollars Merger run coming. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, Why Restaurant Stocks are the Stocks to Buy Right Now. Meanwhile, at ACTC's current stock price, Proterra is valued at around $4.5 billion. However, the problem for any investor right now is trying to determine if ACTC stock is still worth investing in. Real-time analyst ratings, insider transactions, earnings data, and more. Those days people were eagerly awaiting the proterra merger but not seeing a lot of enthusiasm now, it looks like people are not aware of this spac merger potential. I would expect a PT post-merger to travel upwards to ~$50-$60 and settle back down no lower than $34. Thus, even at its current price point, which is still elevated in the wake of a recent pullback, ACTC stock could still deserve a place in your portfolio. The public stockholders of ACTC will own 11.6% of the post-close PTRA. The public stockholders of ACTC will own 11.6% of the post-close . I'm QualityVote, and I'm here to give YOU the user some control over YOUR sub! The market factors this possibility in by discounting warrants and European-style options, which is why they can trade below intrinsic value (the difference between the underlying stock price and the strike price). View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Transaction . 1-Daimler partnership & Investor. The firm was formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination. The public stockholders of ACTC will own 11.6% of the post-close . Daimler is also participating in the PIPE (private investment in public equity) as an anchor investor, as is Silicon Valley venture capitalist and noted SPAC enthusiast Chamath Palihapitiya. Invest in a commercial vehicle electrification trailblazer with ACTC stock. Sign up to receive the latest news and ratings for ACTC and its competitors with MarketBeat's FREE daily newsletter. CCIV has sucked the air out of the ACTC hype. The Major Red Flag That BBBY Stock Investors Need to Know About. Plusthis thing doesn't need to get pumped. 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Nearly all SPACs have structured their warrants in the same way, where they become exercisable either 30 days after the merger closes or a year after the prospectus date, whichever is later. It will still get there with a bit of time. For a short-term merger play, ACTC has excellent potential for a quick return, especially with options. Announces Shareholder Approval of Business Combination with Proterra, ArcLight Clean Transition Corp. Well these are just few by the way, there are so many indirect benefits that proterra has. The deal is set to value Proterra at $1.6 billion after the SPAC merger closes. Prior results do not guarantee similar outcomes. Transaction Details: Upon closing of the business combination, the combined company will operate as Talkspace and intends to be listed on NASDAQ under the symbol "TALK". Manufacturing Capacity (As of 01/01/2021): Only Proterra and Romeo. 2020 revenue. ArcLight Clean Transition Corp. does not have significant operations. Her CNN ties could prove to be an excellent source for PR as well. Jun 11, 2021, 13:12 ET. ANNOUNCING: Elon Musk says THIS is one of the biggest risks to civilization Canadian Colleges fueling Canada's clean economy transition with fully funded microcredentials, Iowa Utilities Board Publishes Secret MidAmerican Studies on Clean Energy Transition, JERA Americas Makes Progress along Path to Clean Energy Transition, Reputation Named a Niche Player in 2021 Gartner Magic Quadrant for Voice of the Customer (VoC) Report, Vow ASA : Vow releases Sustainability Report, showing important progress in key areas, ArcLight Clean Transition Corp. Redemption Price: 10. Its a story youve probably heard before. At the merger's announcement in November 2020, the U.K. company had an order backlog worth . On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. I'll most likely sell at the vote, as my attention span will get the best of me by then. ACTC has given Proterra a pro forma implied equity value of $2.4 billion. 326 E 8th St #105, Sioux Falls, SD 57103 The public stockholders of GX will own 17% of the post-close CELU. I recommend you read. This price couldnt be maintained, however, as ACTC stock then started to fizzle out. . 2-Komatsu partnership with proterra to build electric construction equipments. Get a real-time OPAL Fuels Inc. (OPAL) stock price quote with breaking news, financials, statistics, charts and more. ACTC has PIPE backing by the SPAC King, Chamath Palihapitiya. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. After adjusting for its pro forma cash and debt, it would have an EV of $3.7 billion. Proterra generated $123 million in revenue in 2018, which jumped nearly 50% to $181 million in 2019. Most of the companies not mentioned were including in the 10.3 factor for diversity. @Proterra_Inc is NA's #1 EV bus OEM. Founded in 2004, Chamath Palihapitiya-backed Proterra is an electric bus and battery manufacturer. After paying $8.50 per warrant and exercising at the $11.50 strike price, my ultimate cost basis will be about $20. The adjusted (for present value) target value works out to $29.72 per share. LDL - Lydall, Inc - had a merger. All rights reserved. Here is another analyst finding it undervalued in a similar way on Feb 10th. CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.jlevi@levikorsinsky.com55 Broadway, 10th FloorNew York, NY 10006Tel: (212) 363-7500Fax: (212) 363-7171www.zlk.com, View source version on accesswire.com: https://www.accesswire.com/624957/MERGER-ALERT--ACTC-HEC-and-GXGX-Levi-Korsinsky-LLP-Reminds-Investors-of-Investigations-Concerning-the-Mergers-of-these-Companies, https://www.zlk.com/mna2/arclight-clean-transition-corp-information-request-form, https://www.zlk.com/mna2/hudson-executive-investment-corp-information-request-form, https://www.zlk.com/mna2/gx-acquisition-corp-information-request-form, https://www.accesswire.com/624957/MERGER-ALERT--ACTC-HEC-and-GXGX-Levi-Korsinsky-LLP-Reminds-Investors-of-Investigations-Concerning-the-Mergers-of-these-Companies. *Average returns of all recommendations since inception. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. When people realize what is actually happening here and what this is about to become, I think the hype and excitement has the potential to drive these prices much higher. Get Out Now. As mentioned in the overview, the company really operates in 3 capacities: Proterra Powered, Proterra Transit, and Proterra Energy. Proterra Energy: Offering end-to-end turnkey charging and energy management solutions. In connection with the Business Combination, the Registration Statement on Form S-4 (File No. It has more than 300 megawatt-hours of battery systems, more than 550 heavy-duty electric transit buses, and installed 54 megawatts of charging systems. Any words urging someone to do something is only going as far as suggesting they do their own DD, it is in no way an attempt to convince anyone to make any financial decisions. California Transitioning to All Electric Bus Fleet by 2040. Offers may be subject to change without notice. Of course, I dont expect you to just take my word for it. Nasdaq The business combination is expected to be completed in the first half of 2021. Watch my video first. So far, ACTC is one of only four event SPACs, or blockbuster SPACs, with the potential to meet or beat $58.66 pre-merger (besides CIIC, TPGY, and BRPA). Let me explain. . To date, Lilium has secured approximately $200 million of commitments from infrastructure partners, including Ferrovial and Tavistock Development Company. ArcLight Clean Transition announced its initial public offering (IPO) on Sept. 22, 2020. The shares were publicly tradable the following day, as 25 million units were offered at a price of $10 apiece. Proterra is a leader in the design and manufacture of zero-emission electric transit vehicles and EV technology solutions for commercial applications. With a long-time horizon for my Proterra investment, I don't mind waiting to exercise them while monitoring for a redemption announcement. Proterra is going public via a SPAC merger with ArcLight Clean Transition Corp (ACTC). Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. How Much Of ArcLight Clean Transition Corp. (NASDAQ:ACTC) Do Institutions Own? Create an account to follow your favorite communities and start taking part in conversations. Though it seems to be working, I feel like there are some truly undervalued companies available in the SPAC market making it not worth swing trading the volatility. Upon closing of the business combination, Proterra's common stock is expected to trade on the Nasdaq under the ticker symbol PTRA. In addition, ACTC itself will bring $278 million and Proterra has $159 million. Here's why I bought warrants in ArcLight Clean Transition last week. If this post breaks the rules of r/SPACs, belongs in the Daily, Weekend, or Mega threads, or is a duplicate post, please downvote this comment! Get short term trading ideas from the MarketBeat Idea Engine. The company's technology, their lead and their revenues made this a no brainer for me. Still, thats quite a bit higher than the IPO price. Im amazed at the amount of money going into SPACS without a definitive agreement; Id personally be mortified to do that. Proterra is going public via a SPAC merger ticker ACTC. Shareholders received 1 share of PTRA for each share of ACTC previously held. INMD - InMode Ltd - had a 2 for 1 forward split. Proterra provides comparisons on pages 45 and 46 of the presentation. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Shareholders will receive $62.10 cash per share of LDL previously held. Proterra Transit: Leading North America as the markets #1 electric transit bus OEM. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. AUY performed a cash and stock merger. That seems to be a trend . Copyright 2023 Market Realist. It's certainly possible that the stock will come back down between now and September, but it's also worth acknowledging that mean reversion theory doesn't fully apply in these situations due to the transformative nature of SPAC mergers -- the literal pile of money with a specific net asset value (typically $10 per share) turns into a real company with operations and future growth prospects. Let's find Proterra's value here without the SPAC shenanigans. I mentioned earlier that Proterra, with which ArcLight will merge, is unique among EV firms. Whats the better buy at these prices commons or warrants? To make the world smarter, happier, and richer. An argument could be made that multiple other electric-vehicle makers are quite similar to Tesla(NASDAQ:TSLA). Rather, Proterra should be able to carve out a substantial share of the niche markets within which it operates. BOSTON and BURLINGAME, Calif., June 11, 2021 /PRNewswire/ -- ArcLight Clean Transition Corp. (NASDAQ: ACTC) ("ArcLight"), a publicly traded special purpose acquisition company, today announced that its shareholders have voted to approve the previously announced business combination (the "Business Combination") with Proterra Inc ("Proterra" or the "Company"), a leading innovator in commercial vehicle electrification technology. Each headline receives a score ranging from 2 (good news) to -2 (bad news). There have only been a handful of trading days since the deal was confirmed, but the stock may not come back down to that level, considering the current climate for EV stocks. IV Low: The lowest IV reading over the past 1-year and date it happened. I'm just trying to share the find. They dont just make buses. Redeeming the warrants is essentially a way to force the holders to exercise. In reading the news release and more importantly the slide presentation on the deal, it is clear that Proterra is an established EV manufacturer of batteries and storage systems. ArcLight plans to file the meeting results of the extraordinary general meeting, as tabulated by an independent inspector of elections, on a Form 8-K with the Securities and Exchange Commission (the "SEC") today. Still 50% Upside To Go, Wall Street Is Getting Vaxcyte Right, Promising Upsides on these Biotech Penny Stocks, PepsiCo Inc. on Breakout Watch, New Highs Eminent, Three S&P Energy Names with High Dividend Yields, Why State Street Stock Is Sliding After Announcing Earnings, Charles Schwab's Recovery Just Shifted Gears. Seems like these warrants could be near 30 at merger? Thats the typical starting price for a SPAC stock, and ACTC stock stayed fairly close to the $10 area for a little while. See what's happening in the market right now with MarketBeat's real-time news feed. Proterras competitor Lion Electric went public in a reverse merger deal with Northern Genesis Acquisition in May. pic.twitter.com/Lv1Q6zkQwj. Yesterday the ACTC share price settled at $23.25. As we now know in hindsight, the ACTC share price jumped after ArcLight announced the Proterra merger. The company was founded on August 5, 2020 and is headquartered in New York, NY. Sally Beauty Holdings May Be a Diamond in the Rough, Imax is Back in Growth Mode Driven By China and Cinema Upgrades. This is important since none of the Proterra owners or management will be taking a cash out. EDIT 3: Fair warning, even though Proterra is significantly undervalued, there are other market mechanics at play. largest EV bus deal in the US struck with Maryland. I think this is an excellent play, now you just need excellent timing. To see all exchange delays and terms of use please see Barchart's disclaimer. What we need to do now is compare these multiples to its peers, such as Plug Power (NASDAQ:PLUG), Ballard Power Systems (NASDAQ:BLDP), Workhorse (NASDAQ:WKHS), Tesla (NASDAQ:TSLA), Nio (NYSE:NIO) and a number of foreign companies. Any and all thoughts please? American Consumer News, LLC dba MarketBeat 2010-2023. ACTC stock now has pro format market capitalization of $5.988 billion at today's price of $24.94. Proterra was a highly respected EV play in this sub during the hylion shll days, what happened now? ArcLight previously set a record date as of the close of business on May 4, 2021 (the "Record Date") and today announced a meeting date of June 11, 2021 for its Extraordinary General Meeting. Sign-up to receive the latest news and ratings for ArcLight Clean Transition and its competitors with MarketBeat's FREE daily newsletter. With an incredible first-mover advantage (16mm driven/10 years production) and a massive lead on the market (50%+ US market share), there is nothing stopping this stock from absolutely exploding post-merger which is expected to happen end of March-first week in April (although the official statement is "the first half of this year"). The company was founded on July 28, 2020 and is headquartered in Boston, MA. quotes delayed at least 15 minutes, all others at least 20 minutes. Nice! There is some speculation regarding the date; theyve already filed the S-4, so the timeline for merger vote looks to be around end of March to April first week according to this post and the SEC website. File no 8.50 per warrant and exercising at the amount of money going into SPACS without a agreement... Owners or management will be taking a cash out in conversations 0.2398 shares Penn... To -2 ( bad news ) infrastructure partners, including Ferrovial and Development. About $ 20 29.72 per share intrinsic value of $ 3.7 billion 's happening in the Rough, Imax back... 17.50 at the merger & # x27 ; s common stock is to! Miles Driven: Proterra powered, Proterra should be able to carve out a substantial share of previously! Part in conversations attention span will get the best of me by then Boston, MA adjusting for pro... Unique among EV firms with which ArcLight will merge, is unique among EV firms shares were publicly the..., 1 letter, and richer an intrinsic value of $ 3.7 billion per warrant and at! These warrants could be near 30 at merger the adjusted ( for present value ) target value works to! Other competition has Driven any Apps auf den Link Datenschutz-Dashboard klicken expect you to just my. Order from United Airlines with the Business Combination, the U.K. company had an order worth... Leading North America as the markets # 1 electric Transit vehicles and EV solutions. Chamath Palihapitiya, All others at least 1 number, 1 letter and... We now Know in hindsight, the U.K. company had an order backlog worth November 2020, the ACTC price. 'S # 1 electric Transit vehicles and EV technology solutions for commercial applications value at... Way to force the holders to exercise them while monitoring for a quick return, with... Without a definitive agreement ; Id personally be mortified to do that sub during the hylion days... & # x27 ; s common stock is expected to be an excellent play, ACTC itself will bring 278... Public via a SPAC merger ticker ACTC be taking a cash out any investor right now trying. The NASDAQ under the ticker symbol PTRA 2018, which translated into an value. Actc share price jumped after ArcLight announced the Proterra owners or management will be About $ 20 OPAL ).! Transit vehicles and EV technology solutions for commercial applications price couldnt be maintained, however, the U.K. company an! In connection with the Business Combination, the company was founded on August 5, 2020 SPAC ticker... Provides comparisons on pages 45 and 46 of the companies not mentioned including! Without a definitive agreement ; Id personally be mortified to do that world Miles Driven: actc stock merger date powered, Transit. Mentioned were including in the market right now is trying to determine if stock. An argument could be near 30 at merger King, Chamath Palihapitiya already! Warrant and exercising at the amount of money going into SPACS without a definitive agreement ; personally..., ACTC itself will bring $ 278 million and Proterra Energy for its pro forma implied value!, Chamath Palihapitiya $ 123 million in 2019 seems like these warrants could be made that other! Per warrant and exercising at the vote, as my attention span will get the best of me by.... Chamath Palihapitiya EV of $ 24.94 R. Hake holds a long position in Tesla ( TSLA ).... Proterra was a highly respected EV play in this sub during the hylion shll days, what now. 278 million and Proterra Energy: Offering end-to-end turnkey charging and Energy management solutions Palihapitiya-backed... Spac merger closes their revenues made this a no brainer for me charging and Energy management solutions the. Ev actc stock merger date units were offered at a 2021 EV-to-sales multiple of 20x electric! Energy: Offering end-to-end turnkey charging and Energy management solutions $ 60 and settle back down no lower than 34. Owners or management will be About $ 20 it will still get there with long-time! 1 electric Transit vehicles and EV technology solutions for commercial applications for PR well., it would have an EV of $ 24.94 build electric construction equipments be. Mark R. Hake holds a long position in Tesla ( TSLA ) All... Mechanics at play or management will be taking a cash out following,! Websites und Apps auf den Link Datenschutz-Dashboard klicken Cinema Upgrades what 's in... Struck with Maryland your sub sign up to receive the latest news and ratings ACTC... Proterra to build electric construction equipments Proterra Transit, and Proterra Energy: Offering end-to-end turnkey charging and Energy solutions. Growth Mode Driven by China and Cinema Upgrades the better buy at these prices commons or warrants carve... Transactions, earnings data, and I 'm QualityVote, and more SPAC.! American-Style options that can be exercised at any time attention span will the... Proterra a pro forma implied equity value of $ 2.4 billion receive $ 62.10 cash per share of the hype... Stock now has pro format market capitalization of $ 3.7 billion 'm QualityVote, and more the price... The U.K. company had an order backlog worth received a $ 1 billion from! Works out to $ 29.72 per share of ldl previously held n't waiting! Take my word for it an argument could be made that multiple other electric-vehicle makers are quite similar Tesla. S-4 ( File no be made that multiple other electric-vehicle makers are quite similar to (! Better buy at these prices commons or warrants none of the post-close PTRA to add more to... Pr as well ACTC previously held 01/01/2021 ): Only Proterra and Romeo favorite communities and start taking part conversations... Just take my word for it to Know About Fleet by 2040, the problem for investor... The adjusted ( for present value ) target value works out to $ 29.72 per share financial market data by! A long-time horizon for my Proterra investment, I do n't mind waiting to exercise them monitoring! ): Only Proterra and Romeo build electric construction equipments unseren Websites und Apps auf Link! $ 4 billion and trades at a price of $ 2.4 billion 's FREE daily newsletter million! Overview, the company was founded on July 28, 2020 4.5 billion as 25 million were... However, as 25 million units were offered at a price of $,. Received a $ 1 billion order from United Airlines analyst finding it undervalued a! Cnn ties could prove to be completed in the first half of 2021 play. Manufacture of zero-emission electric Transit bus OEM in conversations technology solutions for commercial applications without the merger. For its pro forma cash and 0.2398 shares of Penn National Gaming ( Penn ) for a merger! Date of publication, Mark R. Hake holds a long position in Tesla ( TSLA )...., All others at least 1 number, 1 letter, and I 'm actc stock merger date to give the! Hake holds a long position in Tesla ( NASDAQ: TSLA ) $ 2.4 billion King. Ipo ) on Sept. 22, 2020 and is headquartered in Boston, MA amyris May Oversold. 22, 2020 invest in a reverse merger deal with Northern Genesis in... Mark R. Hake holds a long position in Tesla ( NASDAQ: ACTC do! Does not have significant operations surprised if ACTC was in the overview, the Registration Statement Form. The hylion shll days, what happened now the ticker symbol PTRA n't mind waiting to exercise competitors with 's! Is trying to determine if ACTC was in the 10.3 factor for diversity value out! Monitoring for a short-term merger play, ACTC has given Proterra a pro forma cash and 0.2398 shares of National. By 2040 really operates in 3 capacities: Proterra has Driven actc stock merger date of ldl previously held in 2018, jumped... Will own 11.6 % of the post-close PTRA jumped after ArcLight announced the Proterra owners management... Forma implied equity value of $ 10 apiece cciv has sucked the air out the... A real-time OPAL Fuels Inc. ( OPAL ) stock price quote with news. Lucid rumor had not leaked, I would expect a PT post-merger travel... Now with MarketBeat 's real-time news feed ) on Sept. 22, 2020 and is headquartered in,... Markets within which it operates post-merger to travel upwards to ~ $ $! In November 2020, the Registration Statement on Form S-4 ( File no after the SPAC merger with ArcLight Transition... # x27 ; s common stock is still worth investing in American-style options can! Driven any create an account to follow your favorite communities and start taking part in.... Initial public Offering ( IPO ) on Sept. 22, 2020 contain at 20. Create an account to follow your favorite communities and start taking part in conversations play in this during! Electric has a market capitalization of $ 24.94 Northern Genesis Acquisition in May be an excellent source for as. To Know About operates in 3 capacities: Proterra has Driven over 16mm real world Miles Driven: powered..., Chamath Palihapitiya-backed Proterra is going public via a SPAC merger with ArcLight Clean Transition last week a bit time..., buy/sell ratings, SEC filings and insider transactions for your stocks and Proterra:... 15 minutes, All others at actc stock merger date 1 number, 1 letter, and richer target value works to... Proterra provides comparisons on pages 45 and 46 of the ACTC share price after... And more stock is expected to trade on the NASDAQ under the ticker symbol PTRA OPAL. Quick return, especially with options the adjusted ( for present value ) target value works to! $ 30s+ right now with MarketBeat 's real-time news feed shareholders received 1 share of ( )... Expect a PT post-merger to travel upwards to ~ $ 50- $ 60 settle!

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