Fisker Inc. To List On NYSE Through Merger With Apollo Affiliated Spartan Energy Acquisition Corp.

Nachrichtenquelle: PR Newswire (engl.)
13.07.2020, 13:00  |  346   |   |   

- Transaction to provide more than $1 billion of gross proceeds to the company, including $500 million fully committed common stock PIPE at $10.00 per share anchored by existing and new investors – including Moore Strategic Ventures, AllianceBernstein, funds and accounts managed by BlackRock and Federated Hermes Kaufmann

- Proceeds to fully fund the development of the all-electric Fisker Ocean through start of production in 2022

- Pro forma equity value of the merger is approximately $2.9 billion, at the $10.00 per share PIPE price and assuming minimal Spartan shareholder redemptions

- Combined company Board of Directors will be comprised of existing Fisker Board members and an Apollo designee

- Transaction advances on Fisker's mission of creating the world's most emotional and sustainable vehicles – and upholds its vision of a clean future for all

LOS ANGELES and NEW YORK, July 13, 2020 /PRNewswire/ -- Fisker Inc. ("Fisker") and Spartan Energy Acquisition Corp. ("Spartan") (NYSE:SPAQ), a special purpose acquisition company sponsored by an affiliate of Apollo Global Management, Inc. (NYSE:APO) (together with its consolidated subsidiaries, "Apollo"), today announced they have entered into a definitive agreement for a business combination that would result in Fisker becoming a publicly listed company.

Fisker Inc. (“Fisker”) and Spartan Energy Acquisition Corp. (“Spartan”) (NYSE:SPAQ), a special purpose acquisition company sponsored by an affiliate of Apollo Global Management, Inc. (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”), today announced they have entered into a definitive agreement for a business combination that would result in Fisker becoming a publicly listed company.

Based in Los Angeles, California, Fisker is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth, supported by advanced mobility solutions. The proposed transaction is anticipated to provide Fisker the necessary funding to bring its first product, the Fisker Ocean, to production in late 2022.

The Fisker Ocean is a fully electric SUV with premium styling and features and has been designed to be the world's most sustainable vehicle, including extensive use of environmentally friendly and recycled materials. The Fisker Ocean will be available to consumers through an innovative leasing package, optimized for driver convenience and accessibility. The vehicle has won numerous awards since its debut at the Consumer Electronics Show earlier in 2020, highlighting strong market reception for this type of vehicle and for the Fisker ethos of appealing design and sustainability.

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