Ev Manufacturer Polestar Gets The Nod From Spac Shareholders To Go Public In A Tumultuous Session Marred By Logistical Problems
While the SPAC mania has long passed, terminated by sinking valuations and tightening of erstwhile lenient disclosure rules by the SEC, this method of going public has not ceased entirely. To wit, Polestar, which constitutes one of the more promising EV names, is all set now to debut on the stock exchange by merging with the SPAC Gores Guggenheim Inc. (GGPI). GGPI shareholders have now approved the merger with Polestar in a dedicated virtual meeting, thereby paving the way for the shares of the combined company – now known as Polestar Automotive Holding UK Limited – to list on the NASDAQ under the ticker symbol PSNY on the 24th of June 2022....