The shares of Lion Electric Co. LEV, -3.20 % jumped 2.4% on Monday in premarket trade after the electric semi-truck and bus manufacturer announced financing agreements resulting in gross proceeds totaling $142 million. The financing included the private placements of 13% non-convertible debt with proceeds of $68.1 million and $74 million. It also included the private placing of 11% convertible debt with proceeds of C$90,000,000 ($68.1million). The Montreal-based firm plans to use proceeds to boost its balance sheet, for working capital and to expand capacity. The stock is up 7.6% in the last three months. Meanwhile, the Global X Autonomous and Electric Vehicles Exchange-Traded Fund DRIV, -1.39 % and S&P 500 SPX, -0.10% are both up 16.1% and 7.1% respectively.