Volvo Cars and Geely's electric car spinoff is set to secure a Nasdaq Capital Market listing by joining forces with Gores Guggenheim.
Polestar Performance, the Sweden-headquartered electric vehicle (EV) producer spun off by carmakers Volvo Cars and Geely, agreed yesterday to merge with special purpose acquisition company Gores Guggenheim at an expected $20bn valuation.
The merged business, Polestar Automotive Holding, will take the place on the Nasdaq Capital Market secured by Gores Guggenheim – formed by affiliates of private equity firm The Gores Group and investment adviser Guggenheim Capital – in a $750m initial public offering in March this year.
The…
