Hennessy Capital Investment Corp. V and Plus Mutually Agree to Terminate Business Combination Agreement
Summary
NEW YORK & CUPERTINO, Calif.--(BUSINESS WIRE)--Hennessy Capital Investment Corp. V (NASDAQ: HCIC) (“HCIC V” or “Hennessy Capital”), a publicly traded special purpose acquisition company, and Plus (formerly Plus.ai), a global provider of self-driving truck technology, announced today that the companies have mutually agreed to terminate their previously announced Merger Agreement and Plan of Reorganization, effective immediately, given the November 8, 2021 “outside date” set forth in the Merger Agreement. We remain optimistic that the parties can once again explore a business combination in the near term that will further advance sustainable transportation.” “Plus has achieved tremendous momentum in executing against our plans to bring autonomous trucks to market globally. We are grateful for the support we have received from the Hennessy team, whose commitment to sustainable commercial transportation technologies we share,” said David Liu, CEO and Co-founder at Plus. Plus’s first commercial product, PlusDrive, is a driver-in solution that supports drivers to make long-haul trucking safer, more efficient, more comfortable, and more sustainable. Investors are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.