Fisker Inc. and Spartan Energy Acquisition (SPAQ) Confirm Merger
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Fisker Inc. To List On NYSE Through Merger With Apollo Affiliated Spartan Energy Acquisition Corp.
July 13, 2020 7:00 AM EDT- 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... More
