Polestar announces equity financing transaction of USD 300 million and a USD 300 million debt to equity conversion
Polestar Automotive Holding UK Limited - Class A ADS (PSNY)
Company Research
Source: Business Wire
GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) today announced a USD 300 million equity investment by Banco Bilbao 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.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251219317093/en/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, Po
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