Lightning eMotors Appoints Teresa Covington as its CFO | Small business & Finance

LOVELAND, Colo.–(Enterprise WIRE)–Jan 12, 2021–

Lightning eMotors (“Lightning eMotors” or the “Company”), a main company of industrial electric powered cars for fleets, currently introduced Teresa Covington as its new chief economical officer. Covington will be a part of Lightning’s senior management workforce and guide the company’s finance and trader relations groups as it transitions to staying a community organization as a consequence of its declared enterprise combination with GigCapital3, Inc. (“GigCapital3”) (NYSE: GIK).

Teresa Covington, CFO of Lightning eMotors. (Picture: Company Wire)

Most not too long ago, Covington served as chief money officer for asTech, a top cloud-centered automotive engineering and diagnostic providers company. Prior to joining asTech, Covington was the head of the global finance corporation at AeroVironment, a publicly traded technology enterprise in aerospace and protection that types, manufactures and distributes unmanned aerial autos. There, she served as senior vice president and main financial officer due to the fact 2017.

“Teresa has additional than 25 several years of palms-on senior money leadership in general public and private engineering-driven manufacturing businesses, ranging from modest venture-backed startups to big Fortune 500 organizations,” stated Tim Reeser, main govt officer, Lightning eMotors. “Her working experience as a leader, as a community company CFO, and her passion for technological know-how and practical experience in functions will be instrumental in helping us to mature our small business.”

Prior to signing up for AeroVironment in 2011, Covington served as senior vice president and chief economical officer at Line 6, a world-wide designer and manufacturer of musical instruments that is now aspect of Yamaha. She also has served in fiscal leadership roles at Mattel Toys, Inc., Harman Global Industries and Equity Promoting Inc.

Covington acquired her master’s in business administration from the Stanford College Graduate University of Business enterprise, a master’s in electrical engineering from the College of Southern California and a bachelor of science in electrical engineering from the College of Illinois at Urbana-Champaign.

“Lightning eMotors is a fast-escalating organization and is recognized as a leader in the emerging fleet electrification small business,” Covington claimed. “I search ahead to aiding the corporation with its future SPAC small business blend and turning out to be general public and foremost an remarkable group of economical professionals. Lightning eMotors is aiding to make this a better environment by minimizing local weather-adjust causing emissions from the transportation sector. Its zero-emission autos are genuinely point out-of-the-artwork, and I am wanting forward to getting a aspect of Lightning eMotors’ workforce.”

Past thirty day period, Lightning eMotors and GigCapital3, a particular-purpose acquisition business or SPAC, declared that they have entered into a definitive agreement for a small business combination. On closing of the enterprise mixture, the blended operating firm will be named Lightning eMotors and will be listed on the New York Stock Exchange below the ticker symbol [“ZEV”].

Covington will be centered at Lightning eMotors’ headquarters in Loveland, Colorado.

Lightning eMotors gives full zero-emission-car (ZEV) remedies for industrial fleets – from Course 3 cargo vans, passenger vans, and ambulances, to Class 4 shuttles buses and box trucks, to Course 6 do the job vehicles, Course 7 town buses, and Course 8 motorcoaches. The Lightning eMotors team patterns, engineers, customizes, and manufactures electric vehicles to support the broad array of fleet customer requirements, with a entire suite of telematics, analytics, and charging remedies to simplify the buying and ownership experience and optimize uptime and vitality efficiency.

About GigCapital World-wide and GigCapital3, Inc.

GigCapital Worldwide (“GigCapital”) is a Personal-to-General public Equity (PPE) technological know-how, media, and telecommunications (TMT) targeted financial commitment team led by an affiliated crew of technology business corporate executives and entrepreneurs, and TMT operational and strategic professionals in the private and community markets, which includes considerable, achievement-established M&A and IPO pursuits. The group deploys a unique Mentor-Investors™ methodology to partner with excellent TMT organizations, managed by dedicated and knowledgeable business owners. The GigCapital Private-to-General public Equity (PPE) organizations (also known as blank check out businesses or Particular Goal Acquisition Businesses (SPACs)) supply fiscal, operational and executive mentoring to U.S. and overseas private, and non-U.S. public organizations, in purchase to accelerate their route from inception and as a privately-held entity into the expansion-phase as a publicly traded business in the U.S. The partnership of GigCapital with these businesses proceeds through an natural and roll-up approach growth submit the changeover to a public firm. GigCapital was introduced in 2017 with the vision of becoming the lead franchise in incepting and building TMT Personal-to-Public Fairness (PPE) providers. For additional details, check out or

GigCapital3, Inc. (NYSE: GIK, GIK.U, and GIK.WS), is just one of GigCapital’s Private-to-Public Fairness (PPE) companies.

“Private-to-Community Equity (PPE)” and “Mentor-Investor” are logos of GigFounders, LLC, utilised pursuant to arrangement.

Ahead Looking Statements

This press release has ahead-looking statements within the this means of Segment 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Trade Act of 1934, as amended. This sort of forward-wanting statements involve, but are not restricted to, statements regarding the business blend in between GigCapital3 and Lightning eMotors and its closing, and the expectations, hopes, beliefs, intentions, programs, potential customers or strategies with regards to the business mix, the foreseeable future business enterprise ideas of the Lightning eMotors and GigCapital3 management teams, and Lightning eMotors’ revenue advancement and fiscal functionality, amenities, product or service expansion, solutions and product or service shipments and abilities. Any statements contained herein that are not statements of historical reality might be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of long run functions or circumstances, together with any underlying assumptions, are forward-hunting statements. The text “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and comparable expressions could establish ahead-searching statements, but the absence of these phrases does not necessarily mean that a statement is not forward-searching. The ahead-seeking statements contained in this press launch are based mostly on sure assumptions and analyses manufactured by the management of GigCapital3 and/or Lightning eMotors in light of their respective knowledge and their perception of historic developments, present situations and envisioned long run developments and their opportunity outcomes on Lightning eMotors and GigCapital3 as effectively as other factors they feel are suitable in the instances. There can be no assurance that foreseeable future developments impacting Lightning eMotors or GigCapital3 will be these that the get-togethers have predicted. These forward-seeking statements contain a range of risks, uncertainties (some of which are outside of the regulate of the events) or other assumptions that might induce real success or functionality to be materially unique from those people expressed or implied by these ahead-wanting statements, which includes that the GigCapital3 stockholders will approve the transaction, the potential of the publish-blend organization to satisfy the NYSE listing criteria, merchandise and service acceptance and that Lightning eMotors will have adequate cash on the approval of the transaction to operate as expected. Ought to a person or additional of these hazards or uncertainties materialize, or need to any of our assumptions confirm incorrect, genuine final results may well vary in content respects from all those projected in these forward-wanting statements. Extra elements that could induce actual outcomes to vary are mentioned underneath the heading “Risk Factors” and in other sections of GigCapital3’s filings with the SEC, and in GigCapital3’s latest and periodic stories filed or furnished from time to time with the SEC. All forward-seeking statements in this press release are built as of the day hereof, based mostly on info available to GigCapital3 and/or Lightning eMotors as of the day hereof, and GigCapital3 and Lightning eMotors think no obligation to update or revise any ahead-looking statement, regardless of whether as a consequence of new information and facts, long term occasions or otherwise, apart from as may well be demanded under relevant securities laws.

Extra Information and facts and In which to Uncover It

GigCapital3 filed a registration assertion on Kind S-4 (File No. 333-251862), which features a prospectus with regard to Lightning eMotors’ securities to be issued in connection with the business blend and a proxy statement with regard to GigCapital3’s stockholder meeting to vote on the company mixture (as amended, the “GigCapital3 proxy statement/prospectus”), with the U.S. Securities and Trade Fee (the “SEC”). Lightning eMotors and GigCapital3 urge buyers and other intrigued individuals to study the GigCapital3 proxy statement/prospectus, as nicely as other paperwork submitted with the SEC, mainly because these documents will contain critical data about the small business blend. The GigCapital3 proxy assertion/prospectus and other suitable resources for the business enterprise mix will be mailed to stockholders of GigCapitl3 as of the history date set up for voting on the organization blend.

Stockholders may perhaps also obtain a copy of the preliminary proxy assertion/prospectus as nicely as other files filed with the SEC by GigCapital3, without the need of demand, at the SEC’s web site positioned at or by directing a request to Brad Weightman, Vice President and Main Economical Officer, GigCapital3, Inc., 1731 Embarcadero Rd., Suite 200, Palo Alto, CA 94303, or by phone at (650) 276-7040.

Contributors in the Solicitation

Lightning eMotors, GigCapital3 and their respective directors and govt officers and other individuals may well be considered to be participants in the solicitations of proxies from GigCapital3’s stockholders in regard of the proposed business enterprise mix and related transactions. Info with regards to GigCapital3’s administrators and govt officers is offered in its final prospectus submitted with the SEC below Rule 424(b)(4) on Might 15, 2020. Extra facts regarding the members in the proxy solicitation and a description of their direct and oblique pursuits will be contained in the preliminary and definitive proxy statements/prospectus connected to the proposed business enterprise blend and relevant transactions when it gets to be obtainable, and which can be attained free of demand from the sources indicated above.

This interaction shall neither constitute an provide to offer or the solicitation of an provide to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the give, solicitation, or sale would be illegal prior to the registration or qualification under the securities laws of any these types of jurisdiction.


Marketplace Search phrase: AUTOMOTIVE Common AUTOMOTIVE Transport Option Vehicles/FUELS Public Transport FLEET Management

Resource: Lightning eMotors

Copyright Enterprise Wire 2021.

PUB: 01/12/2021 08:00 AM/DISC: 01/12/2021 08:01 AM

Copyright Organization Wire 2021.