 Electric pickup truck startup Lordstown Motors Corp. LMC is going public through a reverse merger with a special purpose acquisition company SPAC, the latest clean transportation company to take a fast-track to public trading.Former Workhorse Group Inc NASDAQ: WKHS CEO Steve Burns created LMC in 2019 with the purchase of a former General Motors Company NYSE: GM plant in northeast Ohio. GM is investing 75 million in LMC, including a mortgage loan to LMC and money for retooling the plant.DiamondPeak Holdings Corp NASDAQ: DPHC is committing a total of 675 million from its 2019 initial public offering and private investment in public equity PIPE to fund the production of LMCs Endurance electric pickup truck.A SPAC is created specifically to target a company for a friendly merger. DiamondPeak said it evaluated hundreds of companies before choosing LMC. The PIPE, which allows early investors to buy stock in DiamonPeak at a discount, is projected to raise 500 million, LMC said in a release Monday.The combined company will remain listed on the NASDAQ under the ticker symbol RIDE.This is a developing story. Come back to FreightWaves for updates.Click for more FreightWaves articles by Alan Adler.See more from Benzinga Universal Logistics CEO Touts Companys Adaptability In Tough Environment XPO Stock Tumbles On Weak LTL Performance Forward Air To Expand Pursuit Of Traditional Less-Than-Truckload MarketC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 