Thomas Healy was secretly arranging a deal to turn his Texas-based truck electrification startup into a publicly traded company when the coronavirus pandemic struck.
The crisis halted many transactions, but not the one between special-purpose acquisition vehicle Tortoise Acquisition Corp. and Hyliion Inc., which Healy founded in 2015.
Thomas Healy
Source: Hyliion
The company created from the merger -- Hyliion Holdings Corp. -- began trading Friday in New York after shares in Tortoise surged more than 300% ahead of a shareholder vote last month. Healy’s stake is now worth more than $1.4 billion, making him one of the world’s youngest self-made billionaires. Still, ...
