Polestar Announces IPO, Will Go Public During First Half Of 2022 @ Top Speed

By the end of the first half of 2022, Polestar will have merged with Gores Guggenheim Inc., an American special purpose acquisition company (SPAC).

What does the business side of this look like?

Polestar Announces IPO Along with 3, 4, and 5 Model Teaser
- image 1021537

In case you are unfamiliar with that kind of business, it is essentially a publically traded company whose sole purpose is to acquire another company, in this case, Polestar, to make the acquired company publically traded. This not only gives the acquired company more money from selling stocks, but it also funds the SPAC because they own a company that is making money.

The finished product will be officially named Polestar Automotive Holding UK Limited, however, the company will still largely just be known as Polestar. This business will have the stock ticker PSNY when it goes public.

Right off the bat, the shareholders will be from Polestar and Gores Guggenheim Inc., obviously. However, Gores Guggenheim Inc.’s sponsor and public and private investors will also be shareholders of the new company.

Company culture and tradition

Polestar Announces IPO Along with 3, 4, and 5 Model Teaser
- image 1021538

Anyway, what does all this mean for the future of Polestar and its customers immediately? Well, we know now that this merging will not affect Polestar customers. Their lives will go on as usual, except they may also be able to purchase shares in the company in the first half of 2022 when Polestar goes public.

None of this means Polestar will become an American company. The brand said,

“Polestar remains a Swedish-headquartered global electric performance car company and we will continue to leverage our Scandinavian roots to create design-led, avant-garde electric vehicles.”

The future of Polestar

Polestar Announces IPO Along with 3, 4, and 5 Model Teaser
- image 1021539

So, what does all this actually mean for the future of Polestar? Well, expect them to sort of continue on as they have for the last couple of years now. They will be sort of hopped-up, electric, and incredibly safe Volvos with great styling and gorgeous interiors.

The main thing this means, at least in terms of business, is that Polestar is not going to fizzle out into oblivion anytime soon.

They will have plenty of money to support themselves, especially if the 2 continues to sell and if the 3, 4, and 5 models that have been teased sell as well as their predecessors.

Polestar may also be able to inject some of this new money, at least when they get it, into their upcoming models. An investment that would result in their models being even better to drive, more comfortable, and with better interiors, simply because Polestar will be able to afford it.

Polestar Announces IPO Along with 3, 4, and 5 Model Teaser
- image 1021545

This could give them a much better chance in their fight with Tesla, as the American startup’s only upcoming models are the Roadster and the Cybertruck, which both seem to be a bit up in the air, to say the least.

Not to mention increasing their odds against General Motors and Volkswagen, both of which have invested millions upon millions of dollars into their future EV’s.

Most Related Links :
Business News Governmental News Finance News

Source link

Back to top button