SEC Charges Electric Vehicle Co. for Misleading Revenue Projections Ahead of SPAC Merger #Banking #FinancialServices

Washington, D.C.--(Newsfile Corp. - September 28, 2023) - The Securities and Exchange Commission today charged Denver-based Spruce Power Holding Corporation, the successor to XL Fleet Corp., for misleading investors about revenue projections that topped $1 billion within three years of going public. XL Fleet, which provided hybrid electric vehicle systems for commercial fleet vehicles, went public through a 2020 merger with a special purpose acquisition company (SPAC).According to the SEC’s...


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