M&A - Xos, Inc.

Form Type: ARS

Filing Date: 2025-05-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000181949325000075

Filing Summary: On March 26, 2024, Xos, Inc. completed the acquisition of ElectraMeccanica Vehicles Corp. Under the terms of the arrangement, Xos acquired all outstanding common shares of ElectraMeccanica, with a conversion rate of 0.0143739 shares of Xos common stock for each ElectraMeccanica share, resulting in Xos issuing a total of 1,766,388 shares. This strategic acquisition enhances Xos's offerings in fleet electrification and strengthens its position in the market by broadening its array of electric vehicle solutions. The document includes information about the business combination and its implications on Xos's future operations and product development. Additionally, Xos is focused on developing a suite of commercial products and services aimed at facilitating electric fleet operations. The filing provides a comprehensive overview of the company’s operational structure, risks, and detailed insights into its financial performance through the fiscal year ended December 31, 2024.