Through the use of patented technology and an advanced collaborative business model, HyperloopTT believes it has the potential to impact the $2+ trillion transportation market by addressing pressing societal issues such as overpopulation, traffic congestion, and pollution.
In
To date, HyperloopTT has completed the Great Lakes Hyperloop study to connect
HyperloopTT established what it believes is the world's first insurance framework as well as the safety certification guidelines for commercial hyperloop systems; both of which have been presented to the
HyperloopTT CEO,
Fusion and HyperloopTT expect to announce additional details regarding the proposed transaction when a definitive agreement for the business combination is executed, which is expected to occur in the fourth quarter of 2023.
About
About HyperloopTT
Hyperloop Transportation Technologies is an innovative transportation and technology company focused on realizing the hyperloop, a system that moves people and goods safely, efficiently, and sustainably by bringing airplane speeds to the ground. Through the use of unique, patented technology and a collaborative business model, HyperloopTT is creating a potential new form of transportation.
Founded in 2013, HyperloopTT is a global network of more than 800 engineers, creatives, and technologists, with 50 corporate and university partners. Headquartered in
Important Information and Where to Find It
If a legally binding definitive agreement with respect to the proposed business combination is executed, Fusion intends to file with the
Participants in the Solicitation
Fusion and Hyperloop TT and each of their directors and executive officers may be considered participants in the solicitation of proxies with respect to the Extension and the proposed business combination under the rules of the
Information about Fusion’s directors and executive officer’s interests in the business combination, as well as information about Hyperloop TT’s directors and executive officers and a description of their interests in Hyperloop TT and the proposed business combination will be set forth in the proxy statement relating to the proposed business combination, when it is filed with the
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Extension or the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Forward Looking-Statements
Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Fusion’s and HyperloopTT’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the ability of Fusion to enter into a definitive agreement with respect to a business combination with Hyperloop TT within the time provided in Fusion’s second amended and restated certificate of incorporation; Fusion’s ability to obtain the Extension; Fusion’s ability to obtain the financing necessary to consummate the potential business combination; the performance of Hyperloop TT’s business; the timing, success and cost of Hyperloop TT’s product development activities; assuming the definitive agreement is executed, the ability to consummate the proposed business combination, including risk that Fusion’s stockholder approval is not obtained; failure to realize the anticipated benefits of the proposed business combination, including as a result of a delay in consummating the proposed transaction; the amount of redemption requests made by Fusion’s stockholders and the amount of funds remaining in Fusion’s trust account after the Extension and the vote to approve the proposed business combination; Fusion’s and Hyperloop TT’s ability to satisfy the conditions to closing the proposed business combination; and those factors discussed in the 2021 Annual Report under the heading “Risk Factors,” and the other documents filed, or to be filed, by Fusion with the
Contact
Gateway Investor Relations
(949) 574-3860
FUSION@gatewayir.com
Source:
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