Hennessy Capital Investment Corp. VIII - Class A Ordinary Shares (HCIC)

WILSON, Wyo., Dec. 16, 2022 (GLOBE NEWSWIRE) -- Hennessy Capital Investment Corp. V (the “Company”) (Nasdaq: HCIC), announced today that it has canceled its special meeting of stockholders that was previously scheduled for 3:00 PM Eastern time on December 21, 2022, and that, due to its inability to complete an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation, the Company intends to dissolve and liquidate, effective as of the close of business on December 21, 2022, and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the “Public Shares”), at a per-share redemption price of approximately $10.06 (after taking into account the removal of a portion of the accrued interest in the trust account to pay taxes and $100,000 for dissolution expenses).

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. In light of recent developments in the regulatory environment outside of the United States, Plus is pursuing a potential restructuring of certain aspects of its business, after which HCIC V and Plus may enter into discussions with respect to a potential new business combination.

Plus (formerly Plus.ai), a global provider of self-driving truck technology, announced that the company is expanding its business presence into Europe. Plus has hired Bosch veteran and German native Sun-Mi “Sunny” Choi as Senior Director of Business Development to accelerate its European expansion as the company grows its global footprint. Choi will help deepen existing and future collaboration with truck manufacturers, suppliers, and other Europe-based partners. Plus has already started global customer deployment of its autonomous trucking technology this year.

Plus (formerly Plus.ai), a global provider of self-driving truck technology, announced today that the company has been elected to the Board of Directors of PAVE, an industry coalition with the mission to educate policymakers and the public about the potential of automated vehicles. Wiley Deck, Vice President of Government Affairs and Public Policy at Plus, will represent the company on the Board. As the only Level 4 autonomous trucking technology company that has already started delivering a commercial autonomous driving solution to customers, Plus will work with industry leaders to deepen the understanding of the benefits that automated trucks can offer today and in the future, including increased safety, efficiency, sustainability, and driver comfort.

Plus (formerly Plus.ai), a global provider of self-driving truck technology that recently disclosed its proposed business combination with Hennessy Capital Investment Corp. V (NASDAQ: HCIC), announced today that Plus has delivered the initial production batch of PlusDrive autonomous driving units to FAW in order for FAW to integrate the units and launch China’s first driver-in autonomous trucks.

Plus (formerly Plus.ai), a global provider of self-driving truck technology that recently disclosed its proposed business combination with Hennessy Capital Investment Corp. V (NASDAQ: HCIC), announced today that it will collaborate with Teledyne FLIR, LLC on a development project to explore the addition of thermal cameras to the sensor stack used with Plus’s Level 4 autonomous driving technology.

Plus (formerly Plus.ai), a global provider of self-driving truck technology that recently announced its proposed business combination with Hennessy Capital Investment Corp. V (NASDAQ: HCIC), revealed today that it has completed a driverless Level 4 truck demonstration on a highway. The driverless semi truck was operated using Plus’s Level 4 autonomous driving technology, without a safety driver, teleoperator, or any other forms of human intervention. This represents a significant milestone for the autonomous trucking industry and for Plus, which demonstrated the company’s first driverless Level 4 heavy truck operation at the Qingdao port in April 2018.

Plus (formerly Plus.ai), a global provider of self-driving truck technology, announced today that it has won the 2021 RBR50 Robotics Innovation Award for its driver-in, supervised autonomous driving system, PlusDrive. PlusDrive is recognized for its readiness for commercial deployment to truck fleets, ease of use, and ability to help improve road safety, increase fuel efficiency, enhance driver comfort, and reduce carbon emissions.

Plus (formerly Plus.ai) (“Plus”) today announced the confidential submission on Friday, June 25 with the U.S. Securities and Exchange Commission (the “SEC”) of a draft registration statement on Form F-4 (the “Registration Statement”) relating to its previously announced business combination with Hennessy Capital Investment Corp. V (NASDAQ: HCIC) (“Hennessy Capital”), a publicly traded special purpose acquisition company (or SPAC). The Registration Statement was submitted by Plus Inc., (“New Plus”), currently a wholly owned subsidiary of Plus, which is expected to be the publicly traded entity for the combined company. Shares and warrants of the combined company are expected to be listed on the New York Stock Exchange (“NYSE”) under the ticker symbol “PLAV” and “PLAV.W”, respectively, upon the consummation of the business combination.

Plus (formerly Plus.ai), a global provider of self-driving truck technology, announced that Lynn Miller has joined the company as General Counsel. Miller will serve as a trusted advisor to the Plus management team and Board and lead the company’s legal function.

Reissuing release dated June 16, 2021, to add ticker symbol for searching purposes.