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$NGA Transaction Summary

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Golden_Cross Member Level  Friday, 03/05/21 03:48:59 AM
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Post # of 76 
$NGA Transaction Summary

Transaction
~ Northern Genesis Acquisition Corp. (“Northern Genesis”) (NYSE: NGA) is a publicly listed special purpose
acquisition company with ~$320mm cash held in trust

~ The Lion Electric Co. (“Lion”), a designer, manufacturer and distributor of all-electric medium and heavy-duty
urban vehicles, to combine with Northern Genesis

~ Lion to be the surviving entity; name to be The Lion Electric Company upon closing of the transaction
Listing / Ticker
~ Pro forma company expected to trade on the NYSE under the new ticker symbol “LEV”
Valuation
~ Transaction values the combined entity at an enterprise value of ~$1.5bn

Transaction Proceeds
~$500mm(1) of cash to pursue Lion’s growth strategy based on cash held in trust and PIPE proceeds

~ $200mm fully committed PIPE offering to close concurrently with business combination

~ Growth strategy includes expansion of manufacturing capacity in the U.S., development and automated
assembly of advanced battery systems and other general corporate purposes

~ Expected Closing: Q1 2021




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