|Bid||0.00 x 1200|
|Ask||0.00 x 2200|
|Day's Range||20.31 - 22.85|
|52 Week Range||9.30 - 27.65|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Earlier in November, electric vehicle charging play Nuvve announced it was coming public via a special purpose acquisition company. Now, it looks like investors are ready to dive in. Shares of the SPAC, Newborn Acquisition (NASDAQ:NBAC), are surging higher by more than 50%. So what do you need to know about NBAC stock? And why is it so hot ahead of the Nuvve SPAC merger? Source: Shutterstock With those questions in mind, here are 14 things investors should know about NBAC stock now. Newborn Acquisition launched its initial public offering in February 2020. At the time, it raised $50 million by selling 5 million shares at $10 each. Investors should note that Newborn Acquisition is a Chinese SPAC. When it came public, it said it wanted to focus on businesses in either the U.S. or Asia. Importantly for NBAC stock, the blank-check company is incorporated in the Cayman Islands. Perhaps the biggest news for shareholders came a few weeks ago. Newborn Acquisition announced it would bring Nuvve, an EV charging company, public. Unlike rivals Blink Charging (NASDAQ:BLNK) and ChargePoint (NYSE:SBE), Nuvve offers vehicle-to-grid solutions. This means that when cars are plugged in and not in use, they can contribute back into the grid. Also importantly, many industry experts think this will help boost consumer adoption while also helping the power grid manage the growing presence of EVs. There is also interest in V2G solutions to help power commercial and municipal EV fleets. Nuvve currently has found success in the European market, where V2G solutions are popular. When it comes public, Nuvve will trade on the Nasdaq Exchange. It will then trade under the ticker NVVE. Additionally, the combined company could have an enterprise value as high as $130 million. InvestorPlace - Stock Market News, Stock Advice & Trading Tips What You Need to Know About NBAC Stock Broadly, investors have been very interested in electric vehicle stocks and all sorts of adjacent plays. This has taken Nuvve rivals Blink Charging and ChargePoint to new heights. Will Nuvve and NBAC stock continue to benefit from the same catalysts? It looks likely, especially as there is no real news driving Newborn Acquisition up in the market today. Investors should also know about a recent announcement from the company. Last week, Nuvve and Newborn Acquisition shared an exciting development. Nuvve and Lion Electric are forming a V2G partnership. What does that mean? Well, Canada-based Lion Electric focuses on developing heavy-duty electric vehicles like all-electric school buses. Now, it wants to work with Nuvve to make sure its fleets incorporate V2G solutions as a standard feature. Why does that matter? Well, a large part of the thesis for NBAC stock is that Nuvve will shine in the realm of electric vehicle fleets. As it looks for new customers ahead of the Nuvve SPAC merger, it is important that it is gaining some fans in Canada. Just how meaningful the Lion Electric deal will be remains to be seen, but it is certainly a reason for optimism. Keep an eye on NBAC stock. It is joining other EV SPAC peers like CIIG Merger (NASDAQ:CIIC) in massive gains this week. On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. Sarah Smith is a Web Content Producer for InvestorPlace.com. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post NBAC Stock: 14 Things to Know Ahead of the Nuvve SPAC Merger appeared first on InvestorPlace.
Nuvve Corporation (Nuvve), a San Diego-based, green energy technology company and the global leader in vehicle-to-grid (V2G) technology, and The Lion Electric Co. (Lion Electric), a leading original equipment manufacturer of all-electric heavy-duty vehicles based in Saint-Jérôme (Québec, Canada), announced today their collaboration on launching vehicle-to-grid (V2G) technology as a standard feature of their zero-emission school buses. Last week, Nuvve announced a definitive merger agreement with Newborn Acquisition Corp. (Nasdaq: NBAC) which will result in Nuvve becoming a listed public company at closing.
Green energy technology company Nuvve Corporation ("Nuvve"), the global leader in vehicle-to-grid (V2G) technology, and Newborn Acquisition Corp. ("Newborn") (NASDAQ:NBAC, NBACU, NBACR, NBACW) a publicly traded special purpose acquisition company with approximately $57.5 million of cash in trust, today announced the signing of a definitive merger agreement to take Nuvve public. The companies today also announced the signing of definitive purchase agreements with institutional investors for the investment of approximately $18 million in the combined company through a PIPE and bridge financing. Upon closing of the business combination, the combined company will be named Nuvve Holding Corp. ("Nuvve Holding") and is expected to remain listed on Nasdaq under the ticker symbol "NVVE".