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The market is cold on SPACs, but it has the Polster network and knowledge.
Polstar, EV sub-brand The $ 20 billion, which started last week in Nasdaq from Volvo and Jill, took the traditional route to IPO and did not receive a $ PSNY ticket.
By ringing the bell, Polster became the latest EV maker to rush into a stock exchange before merging with a special purpose purchasing company or SPAC.
Being under Volvo Ages will allow Polster to get started with the traditional electric vehicle, although its production targets are relatively small compared to other recent SPAC’d EV companies.
The merger with vacant Czech company Gores Guggenheim raised nearly $ 890 million for Polestar, which will be used to support a major three-year growth plan. But so far, as a member of a large international corporation, despite his vast wealth, the stock has largely stalled. After the merger of SPAC on June 24, it started at $ 10 per share and jumped to $ 13, but traded around $ 9.70 on Wednesday morning.
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