Fisker Inc. and Spartan Energy Acquisition (SPAQ) Confirm Merger

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Go back to Fisker Inc. and Spartan Energy Acquisition (SPAQ) Confirm Merger

Fisker Inc. To List On NYSE Through Merger With Apollo Affiliated Spartan Energy Acquisition Corp.

July 13, 2020 7:00 AM EDT

- Transaction to provide more than $1 billion of gross proceeds to the company, including $500 million fully committed common stock PIPE at $10.00 per share anchored by existing and new investors including Moore Strategic Ventures, AllianceBernstein, funds and accounts managed by BlackRock and Federated Hermes Kaufmann

- Proceeds to fully fund the development of the all-electric Fisker Ocean through start of production in 2022

- Pro forma equity value of the merger is approximately $2.9 billion, at the $10.00 per share PIPE price and assuming minimal Spartan shareholder redemptions

- Combined company Board... More