Xos, Inc. Acquires ElectraMeccanica Vehicles Corp.
March 26, 2024
Xos, Inc. completed an all-stock acquisition of ElectraMeccanica Vehicles Corp., adding roughly $48 million to Xos' balance sheet and providing growth capital to support scaling of deliveries. ElectraMeccanica shareholders received 0.0143739 shares of Xos common stock per ElectraMeccanica share, and ElectraMeccanica common shares were delisted from Nasdaq following the close.
- Buyers
- Xos, Inc.
- Targets
- ElectraMeccanica Vehicles Corp.
- Sellers
- ElectraMeccanica shareholders
- Industry
- Automotive
- Location
- British Columbia, Canada
- Transaction Type
- Buyout
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