AUSTIN, Texas–Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 commercial vehicles, today announced the successful exercise of the Public Warrants that expired on December 30, 2020.
Transaction Highlights
- Approximately $142 million in cash proceeds received upon exercise of Public Warrants for approximately 12.5 million shares of Common Stock
- Over 98.5% of the Public Warrants exercised prior to expiration
“The successful exercise of these warrants and resulting capital raised allows Hyliion to accelerate its investment in technology, talent and infrastructure towards achieving the company’s mission,” said Thomas Healy, Hyliion’s Chief Executive Officer. “This incremental capital allows us to pursue additional partnerships and M&A activity that we may not have considered previously.”
Hyliion’s mission is to become the leading powertrain provider of electrified solutions for the commercial vehicle industry. The results of the redemption are an important step along the commercialization path for Hyliion as it continues executing against reducing the carbon intensity and greenhouse gas (GHG) emissions of the transportation sector.
“We see a tremendous number of opportunities in the transportation sector that are ready to participate in this electrification transformation,” said Healy. “Over the next year we will explore additional technologies and business synergies that could range from improving our existing solutions, renewable natural gas expansion, hydrogen development, improved battery solutions, expanding our product portfolio and more.”
With the redemption of the publicly traded warrants, Hyliion now trades under one ticker symbol, HYLN, on the New York Stock Exchange.
Exploring Hydrogen?
“Over the next year, we will explore additional technologies and business strategies that could range from improving our existing solutions, RNG expansion, hydrogen development, improved battery solutions, expanding our product portfolio and more,” Healy said.
About Hyliion Holdings Corp.
Hyliion’s mission is to reduce the carbon intensity and GHG emissions of commercial transportation Class 8 vehicles by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, it designs, develops and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial vehicles, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
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