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hey guys welcome back to my channel hope you're having a fantastic day and i hope your stock portfolios are doing well today we're going to talk about a spac that just confirmed its merger we mentioned this stock a couple of times on my channel and the stock is next-gen acquisition corp stock ticker symbol n g a c and they're set to merge with an electric truck maker called x o s i don't know if you pronounce that or if it's just the letters so we're gonna call it x o s and xos is an electric truck maker that already has major partnerships and they have a couple of deals with big companies such as ups and loomis in addition to this they recently signed an uh another deal for up to 1100 trucks to be ordered over the next three years with thompson truck centers so we have a lot to go over with this recent announcement and this merger confirmation between ngac and xos and we're going to go everything you need to know about the company if i'm invested in it what we're doing in our public portfolio with this stock and if you enjoy this sort of content you find it helpful and then make sure to like the video down below subscribe to my channel turn the bell notifications so you can be notified every time i post a new video and comment down below your thoughts on xos and stock ticker symbol ngac for those who are new here my name is michael i'm an investor and entrepreneur last year our public investing account on patreon which is currently sitting around 745 000 was up over 105 for 2020 this year the account is already up over 35 in 2021 in the first two months of 2021. our goal is to get that account to 1 million dollars by the end of the year we're well on our way to doing that and if you'd like to see the investments i make in real time when i buy a stock when i sell a stock if you want full access to that portfolio with daily updates of the stocks that i own in it if you want exclusive content i don't share on youtube access to our discord and be able to message me about any stocks that you are curious about make sure to join our group using the link down below we have hundreds of members there we have a great time talking about exciting and new investments but anyways today we're going to talk about next gen acquisition corp stock terror symbol ngac and how they just announced today that they are officially going to be merging with an electric truck maker called xos and this deal values the combined um you know after the merger the combined value of two billion dollars and some of xos customers already include uh ups and armored service um armored car service company called loomis a b and also transportation company lone star in addition to this they just signed another recent agreement with uh thompson trucks which i'll go over later um we'll go over some of the specific details on that but with this money the deal provide xos with about 575 million dollars in gross proceeds and they're gonna be able to use this money um to build vehicle assembly and battery manufacturing capacity and to continue to work on next generation battery systems and other technologies over the next couple of years the ceo of um the company said that they are expected to be cash flow positive by 2023 and this is pretty important so right now a lot of these electric truck makers don't have a lot of capacity they're really in their very early stages still building you know the factories and building up the capacity so they're able to meet meet the demand in the next couple of years and this money is going to be very useful for that an important thing to keep in mind with electric trucks in general is that there's a lot of companies right now out there that are all trying to tackle the same market this is going to be 100 billion dollar industry and over the next couple of years the joe biden administration is expected to spend billions of dollars tens of billions of dollars on um transitioning vehicles in the u.s especially um electric buses and trucks and last mile delivery trucks all of these from gas and combustion engine vehicles to electric vehicles and that is why xos is such an important company in this space so xos right now um what's important about them is that they're actually a us-based company they are based in north hollywood california and they rebranded themselves in 2019 from what they used to be called which was thor and to now being called xos and this is really important because of everything with the joe biden administration right now the administration is looking for u.s companies that can help transition the buses and trucks over from gas to electric and xos is a perfect fit they are based in the us they already have small deals with the ups um loomis a b lone star and a number of other companies and now with this about 600 million dollars in cash they're gonna be able to use that money to build out their capacity so they can handle large orders over the next couple years and that's gonna be what's important it's it's not really gonna be about i don't think personally at this point the branding of all of these small companies isn't as important as going to be who is going to be able to produce the most amount of electric trucks and electric buses and electric last mile delivery vans which company is going to have the capacity to handle large orders because there's going to be a lot of tax breaks and incentives for companies to move over to electric the government's going to be spending billions of dollars with um joe biden's climate change and renewable energy bills that they're going to pass so it's going to be which company really is going to be able to produce the most amount of vehicles and right now all these companies are in their early stages but xos is positioning itself very well with the partnerships they currently have and in addition to this they recently just signed another deal with um thompson truck centers and the deal was that it's a partnership between xos trucks and thompson truck centers and over the next three years uh thompson truck centers could order up to 1100 electric trucks the initial order um in the agreement is for 100 units which um isn't a lot but it is a major milestone for a small company like xos and according to um the agreement it says their partnership includes a hundred truck order with mutual goals to order up to another 1 000 trucks over the next three years and this is really important so as long as xos can deliver those hundred vehicles they are up to the standards of thompson truck centers they perform well well then most likely we'll see another thousand being ordered and this will be really big i'm a great opportunity for xos and now with them going public via this spec it just presents more opportunities for them more exposure for the company over the next few months the next few years and just a reminder this deal will value the company at about 2 billion so it is a high valuation in comparison to the revenue and the numbers they're doing there but that's not important what's important is the potential they have now with 600 million dollars in cash on their balance sheet after the merger with these already partnerships in place with ups loomis lone star and thompson truck centers they're in a great position and couple that with joe biden administration and their push towards electric vehicles i think xos and their merger with ngac is definitely something you're going to want to keep an eye out on if you don't already have it in your portfolio definitely put on your watch list keep an eye out on it because it could be a major player in years to come right now you know a lot of these specs are high risk high reward so if you're not looking to go super high risk in your portfolio keep it on the side watch it because it may be a great investment you know at least to put something in for now but anyways let me know what you guys think of xos and their merger with ngac i hope you guys enjoyed today's video don't forget to get your four free stocks each valued up to sixteen hundred dollars when you download the weeble investing app using the link down below i hope you enjoyed and i'll see you in the next episode you