Polestar (Nasdaq: PSNY) announced the completion of debt-to-equity conversions totaling approximately $640 million since the start of 2026, following transactions involving Geely Sweden Holdings AB and Volvo Cars.

On June 30, 2026, Geely Sweden Holdings AB converted approximately $300 million of its outstanding shareholder loan into Polestar equity at a conversion price of $19.34 per share. Volvo Cars converted approximately $66 million on the same date, bringing its total conversion to approximately $340 million, priced at 95% of the 30-day volume-weighted average price in Polestar shares up to March 27, 2026. The remaining approximately $660 million of Volvo Cars' shareholder loan matures in December 2031.

Separately, on June 3, 2026, Polestar and Geely Sweden Holdings AB agreed to extend the term of an outstanding subordinated loan facility, originally provided in December 2025, to June 30, 2027.

Polestar also increased its Green Trade Finance Facility by EUR 50 million to EUR 450 million on June 5, 2026, following the addition of Fubon Bank (Hong Kong) Limited to the syndicate. Standard Chartered Bank continues to serve as Structuring Bank and Facility Agent for the facility.

CEO Michael Lohscheller said the transactions "improve Polestar's capital structure and lengthen our debt maturity profile, as we continue the ramp-up of our new product portfolio."