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Stock impact report

Polestar announces equity financing transaction of USD 300 million and a USD 300 million debt to equity conversion [Yahoo! Finance]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Yahoo! Finance
Vizcaya Argentaria, S.A. and NATIXIS, with USD 150 million each. Concurrent with the purchase, these financial institutions have each entered into a put option arrangement with a wholly-owned subsidiary of Geely Sweden Holdings AB, which provides the financial institutions with an exit path, if needed, in three years with certain returns, as part of this equity financing arrangement. Additionally, Geely Sweden Holdings AB has agreed with Polestar to convert approximately USD 300 million of its outstanding principal and interest owed by Polestar under a Term Facility Agreement, dated 8 November 2023, into equity. The conversion is expected to be completed after the receipt of any necessary regulatory approvals. Michael Lohscheller, Polestar CEO, says: "These transactions significantly enhance our liquidity position and help strengthen our balance sheet. We are grateful for the continued support shown by Geely Holding and their confidence in Polestar's vision." Additional informat Show less Read more
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