PIC.U

Pivotal Investment Corp II

A special purpose acquisition company, or "blank check" firm, formed in 2019 to find a company to buy and take public. Founded by Jonathan Ledecky, co-owner of the New York Islanders hockey team, it raised money from investors and merged in 2020 with XL Hybrids (renamed XL Fleet), which electrifies commercial and municipal truck fleets. Its name signals its role as the pivot point taking a private firm public.

SPAC Unit (1 share Class A + 1 warrant)