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Hyliion Inc. and Tortoise Acquisition Corp. Announce Merger

Hyliion Inc. and Tortoise Acquisition Corp. Announce Merger Background Decorative Image

Vinson & Elkins advised Tortoise Acquisition Corp., a special purpose acquisition company with a strategic focus on the energy sector and decarbonizing commercial transportation in North America, in its definitive agreement to merge with Hyliion Inc.

Hyliion Inc., based in Austin, Texas, is a developer and manufacturer of electrified powertrain solutions for Class 8 commercial vehicles that significantly reduce emissions and contribute to a cleaner energy future. The pro forma implied market capitalization of the combined company is expected to be over $1.5 billion.

The Vinson & Elkins team was led by corporate partners Ramey Layne, Brenda Lenahan and John Kupiec with assistance from counsel Doug Lionberger, senior associates Stancell Haigwood and Robbie Hopkins and associates Julie Bontems, Elisie Lee, Mark Phillips and Tara Tegeleci.  Also advising were partner Devika Kornbacher and senior associate Ben Cukerbaum on intellectual property matters; partner Jason McIntosh, senior associate Brian Russell and associate Daniel Henderson on tax matters; partner David D’Alessandro and counsel Missy Spohn on employment matters; senior associate Andrew Schulte and associates Layton Suchma and Chandler Jones on securities law matters.

Vinson & Elkins also represented Tortoise Acquisition in its $233 million initial public offering that closed in February 2019.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 12 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or follow us on Twitter @VinsonandElkins or connect with us on LinkedIn.

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