What Happened to Evolv Technologies Holdings?
Ticker: EVLVSPAC Year: 2020
Return
-41.4%
Current Price
$4
Peak Price
$12.9
Trust Size
$304M
Summary
Evolv Technologies makes AI-powered weapons detection and security screening systems used in stadiums, schools, and other venues. The company went public via SPAC merger with NewHold Investment Corp in 2021. Despite growing deployments, the stock has been volatile amid accounting concerns.
What Happened
NewHold Investment Corp merged with Evolv Technologies in July 2021. The company's touchless screening systems gained traction at stadiums and events, but Evolv faced an SEC investigation into revenue recognition practices that sent shares tumbling. The company continues to operate and win new contracts but trades at a significant discount to its SPAC price.
Timeline
2020-07-24
S-1 Registration Filed