Polestar announces new equity financing of USD 300 million

Core Viewpoint - Polestar has announced a new equity financing round totaling USD 300 million, aimed at strengthening its balance sheet and liquidity position, with participation from several financial institutions [2][3]. Equity Financing Details - The equity investments include contributions from Crédit Agricole CIB, Vida Finance S.A., Innovator Limited, and Proximastar Holdings Company Limited [2]. - Each purchaser has entered into a put option arrangement with a subsidiary of Geely Sweden Holdings AB, allowing for an exit path in three years with certain returns [2]. - The price per Class A ADS for this financing is set at USD 19.34, consistent with previous financing rounds in December 2025 and February 2026 [4]. Financial Position and Strategy - Polestar's CEO, Michael Lohscheller, highlighted that the company has successfully raised a targeted total of USD 1 billion in new equity since December 2025, bolstered by support from Geely Holding [3][5]. - The recent financing rounds have improved Polestar's free float and diversified its shareholder base [3]. Future Plans - Polestar is focused on delivering its ambitions following a record year of retail sales, with plans to introduce four new models over the next three years [4][8]. - The company aims for low double-digit volume growth in 2026 and a retail network expansion of 30% [16]. Sustainability Commitment - Polestar has set ambitious climate targets, including halving greenhouse gas emissions per vehicle sold by 2030 and achieving climate neutrality across its value chain by 2040 [9].