Electric car maker Fisker will go public through a merger with a blank check company backed by private equity firm Apollo Global Management Inc ...
Electric car maker Fisker will go public through a merger with a blank check company backed by private equity firm Apollo Global Management Inc at a valuation of US$2.9 billion, the companies said on Monday.
Reuters reported last week that the special purpose acquisition company, Spartan Energy Acquisition Corp , was leading a bidding war among blank-check companies for Fisker.The deal will provide Fisker with US$1 billion in gross proceeds, including US$500 million of funds from existing and new investors such as AllianceBernstein and BlackRock Inc .
Henrik Fisker, a one-time Aston-Martin designer, launched the eponymous Los Angeles-based company in 2016, and plans to begin selling the Fisker Ocean luxury electric SUV at a starting price of US$37,500."Prototype vehicles are expected to start durability testing by the end of this year," Fisker said in a statement.
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