Will Polestar go public?

Currently, Polestar is not a publicly-traded company. However, it did announce the signing of an agreement with Gores Guggenheim, Inc. (NASDAQ: GGPI), a special purpose acquisitions company (SPAC), last year that will see the company finally go public.

Similarly What is the symbol for Polestar stock? When the SPAC merger is complete, the company will be listed on the Nasdaq exchange under the new combined company name Polestar Automotive Holding UK Ltd, with the ticker or stock symbol “PSNY”.

Is Polestar profitable? As part of its aforementioned plan to break even in 2023 and turn a profit in 2025, the automaker will go public thanks to a proposed business agreement with Gores Guggenheim Inc., a special purpose acquisition company (SPAC) that will give Polestar a spot on the NASDAQ ticker.

Additionally, What is the Polestar SPAC?

Polestar is a global pure-play EV company with significant potential. The company signed an agreement with GGPI SPAC to go public in a transaction valued at $20 billion. Gores Group is a reputable sponsor with many successful completed de-spacing transactions and potential deals in the works.

Does Volvo make Polestar?

Polestar is one brand in the stable of Polestar’s other parent company – and Volvo’s owner – Geely. The China-based company owns half of Polestar while also owning all of Volvo, which in its own right owns the other half of Polestar.

Who owns GGPI stock? Class A Common Stock (GGPI) Institutional Holdings | Nasdaq.

New and Sold Out Positions.

OWNER NAME ALLIANZ ASSET MANAGEMENT GMBH
SHARES HELD 640,000
CHANGE (SHARES) 440,000
CHANGE (%) 220%
VALUE (IN 1,000S) $7,610

Is Polestar on the stock market? The POLESTAR brand, founded in 1997 (Germany), is part of our Top Web Popularity, from 114 sister brands and 7648 competing brands. POLESTAR is a brand of GEELY AUTOMOBILE, listed on the stock exchange of Francfort. The International Securities Identification Number (ISIN) of GEELY AUTOMOBILE is KYG3777B1032.

Who owns Polestar stock? Based in Sweden, Polestar was originally spun out of Volvo Car Group in 2016 and is jointly owned by Chinese automaker Geely Holding Group (OTCPK:GELYF) (50.5%) and Volvo Car Group (49.5%).

How much will Polestar stock be worth?

Polestar’s Valuation (GGPI Stock)

That means that the $17.8 billion in 2025 revenue is worth about $10 billion in present value terms (i.e., 0.5717 x $17.8b = $10.176b). Therefore, at today’s $24.267 billion market value, Polestar is just 2.38 times 2025 revenue, on an adjusted present value basis.

Is Polestar on the stock market? Polestar stock is not yet available to purchase on any exchange. But it’s expected to go public soon.

Who is Polestar merging with?

Polestar Should Be a Hit When its Reverse Merger with Gores Guggenheim Closes. Polestar, the Swedish electric vehicle (EV) maker, announced on Jan. 11, 2022 that it had met its target production and sales of 29,000 cars in 2021.

Is Gores Guggenheim a Polestar? Gores Guggenheim (NASDAQ:GGPI) has added $27.2 million more to its PIPE for its deal with Swedish electric vehicle-maker (EV) Polestar. As background, Gores Guggenheim arranged a $136 million new PIPE for the deal in December of 2021.

What company is taking Polestar public?

Sept 27 (Reuters) – Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. The deal with Gores Guggenheim (GGPI.

Is Polestar 2 a Volvo?

The Polestar 2 is a battery electric 5-door liftback produced by the Swedish automaker Volvo under its Polestar sub-brand.

Is Volvo a Chinese company? The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China). Under its company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way.

Is GGPI an American company? GGPI:USNASDAQ CM. Gores Guggenheim Inc. COMPANY INFO.

What kind of stock is GGPI?

Class A Common Stock (GGPI) Stock Price, Quote, News & History | Nasdaq.

Key Data.

Label Value
Average Volume 3,339,977
Previous Close $11.96
52 Week High/Low $16.41/$9.70
Market Cap 1,189,000,000

What is the market cap of Polestar? Why Polestar Looks Cheap

Moreover, in 2022, the company projects $3.2 billion in sales and for 2023, $6.7 billion. That implies that its $25.5 billion market cap is only 3.8 times 2023 projected sales.

Who makes Polestar?

Polestar

Type Subsidiary
Products High performance electric engines & cars
Owner Volvo Cars
Parent Geely
Website www.polestar.com

Is Polestar a private company? The Polestar IPO is the newest opportunity in the EV market. The company is going public via a SPAC deal with Gores Guggenheim.

 

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