Self-driving truck startup Plus said to plan Hennessy SPAC deal

Self-driving truck startup Plus is in talks to merge with special purpose acquisition company Hennessy Capital Investment Corp. V, according to people familiar with the matter, making it the latest autonomous vehicle maker seeking to go public via a blank-check firm.

Sequoia Capital-backed Plus is set to have a valuation of more than $3 billion and raise $500 million to $600 million through the deal, which includes proceeds from the SPAC and new equity raised, one of the people said, asking not to be identified because the matter is private. BlackRock Inc. — already a Hennessy investor — is discussing putting in more money through a so-called private investment in public equity, or PIPE, the person said.