27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
A clean energy company with a unique software solution is going public via a SPAC merger announced Thursday morning.
The SPAC Deal: Energy Vault is going public with Novus Capital Corporation II (NYSE:NXU) in a deal valuing the company at a pro-forma enterprise value of $1.1 billion.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Investors in Energy Vault include SoftBank Group and a venture fund from Aramco, one of the largest companies in the world.
Energy Vault was founded by Bill Gross, who leads Idealab and is the CEO of Heliogen, which recently announced a SPAC merger with Athena Technology Acquisition Corp (NYSE:ATHN).
A $100 million PIPE for the SPAC deal is supported by investments from SoftBank, Cemex (NYSE:CX) and Palantir Technologies Inc (NYSE:PLTR). SPAC sponsor Novus Capital is also participating in the PIPE.
Shares of the new company will trade under the ticker GWHR on the NYSE with a deal expected to close in the first quarter of 2022.
Related Link: 14 SPACs That Palantir Technologies Has Invested In Or Partnered With
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
About Energy Vault: Founded in 2017, Energy Vault uses a gravity-based, grid-scale energy storage system. The company uses a block tower system to store and released renewable energy.
Energy Vault uses software to determine when power demand is low. The company cites having operational flexibility for short- and long-duration storage versus existing competition.
The company utilizes artificial intelligence and proprietary software for its energy storage solution. The company will produce low-cost renewable power all hours of the day using its tower system.
Growth Ahead: Energy Vault is seeking to change the renewable energy market by providing energy regardless of the current weather conditions.
Energy Vault expects to generate revenue in 2022. Funds from the SPAC deal are expected to fund the company’s growth strategy that includes customer deployments in the fourth quarter of 2021 in the U.S. and other countries in 2022.
“We’re seeing all the demand even come forward,” Energy Vault CEO Robert Piconi said.
Renewable energy is expected to represent 90% of total energy generation by the year 2050, according to IRENA.
The company could play a vital role in energy storage, which is a market that could grow substantially given the investments being made in clean energy.
Photo: Energy Vault
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.