Embark CEO Alex Rodrigues taking driverless truck firm public via SPAC


Embark, a self-driving truck venture led by 25-year-old CEO Alex Rodrigues, announced a deal to go public via SPAC on Wednesday.

San Francisco-based Embark plans to combine in a $5.2 billion deal with Northern Genesis Acquisition Corp. II, a special purpose acquisition company, to become a publicly traded stock. The driverless tech company expects to raise about $614 million in gross cash proceeds, including a $200 million private investment from Knight-Swift Transportation Holdings, Sequoia Capital and Tiger Global, among others.

The proceeds are expected to fully fund Embark’s business through 2024. It’s the latest self-driving truck company making a deal to go public in recent…


0 0 votes
Article Rating

Marc Lore says brands like Warby Parker can’t be created by large retailers

Previous article

Biden to replace leader of Fannie Mae and Freddie Mac after Supreme Court ruling

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Autos