Polestar announces equity financing transaction of USD 300 million and a USD 300 million debt to equity conversion

Core Viewpoint - Polestar has secured a USD 300 million equity investment from Banco Bilbao Vizcaya Argentaria, S.A. and NATIXIS, enhancing its liquidity and balance sheet strength [1][3] Investment Details - Each financial institution is investing USD 150 million, and they have entered into a put option arrangement with Geely Sweden Holdings AB, allowing for an exit path in three years [1] - Geely Sweden Holdings AB will convert approximately USD 300 million of outstanding principal and interest owed by Polestar into equity, pending regulatory approvals [2] - The price per Class A ADS for the investment will be USD 19.34, based on the volume-weighted average price over the last three months [3] Company Background - Polestar is a Swedish electric performance car brand focused on design and sustainability, with operations in 28 markets globally [5] - The company has four models in its lineup and plans to introduce additional models, including the Polestar 7 compact SUV in 2028 [6] Sustainability Commitment - Polestar aims to halve greenhouse gas emissions per vehicle sold by 2030 and achieve climate neutrality across its value chain by 2040, focusing on Climate, Transparency, Circularity, and Inclusion [7]