Polestar secures USD 1 billion external funding; business outlook confirmed [Yahoo! Finance]
Polestar Automotive Holding UK Limited (PSNYW)
Company Research
Source: Yahoo! Finance
Richer product mix: global roll-out of two new SUVs to drive significant volume and profit margin progression expected in second half of the year Efficiency program delivers results GOTHENBURG, Sweden, February 28, 2024 BUSINESS WIRE )--Polestar Automotive Holding UK PLC (Nasdaq: PSNY), the Swedish electric performance car brand, announces that it has secured USD 950 million in external funding. The company is making strong progress on its strengthened business plan and achieving its 2025 targets. The financing is being provided by 12 leading international banks including BNP Paribas, Natixis, Standard Chartered, BBVA, HSBC and SPDB, in the form of a three-year loan facility. It provides Polestar with the funds it requires to finance the next stage of its development and covers a large majority of its estimated financing needs. Cash on the balance sheet as at 31 December 2023 was approximately USD 770 million. Thomas Ingenlath, Polestar CEO, says: "Securing funding from a syn
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PSNYW
News
- Polestar Joins EV-Tech Crossover With Made-for-China Smartphone [Yahoo! Finance]Yahoo! Finance
- Polestar Joins EV-Tech Crossover With Made-for-China Smartphone [BNN Bloomberg (Canada)]BNN Bloomberg
- Lilium names Johan Malmqvist as chief financial officer [Seeking Alpha]Seeking Alpha
- Lilium Names Johan Malmqvist as Chief Financial Officer [Yahoo! Finance]Yahoo! Finance
- Polestar Borrows $1 Billion to Fund Rollout of Electric Vehicles [BNN Bloomberg (Canada)]BNN Bloomberg
PSNYW
Sec Filings
- 4/30/24 - Form NT
- 4/11/24 - Form 6-K
- 2/29/24 - Form 6-K
- PSNYW's page on the SEC website