WATCH: Iconic motorcycle company Harley Davidson’s electric vehicle division Livewire will go public via a SPAC merger deal valued at $1.7 billion
The Harley Davidson LiveWire electric motorcycle, developed in collaboration with Panasonic Automotive, is displayed during a Panasonic news conference at the 2019 Consumer Electronics Show in Las Vegas, Nevada, U.S. January 7, 2019. REUTERS/Steve Marcus
"If anything this underlines what we've been saying for a long time. Detroit, wake up! The train has left the station! EVs are inevitable," Roth Capital analyst Craig Irwin said. "Many traditional OEMs with emerging EV businesses can obviously do similar spinoff transactions," Irwin added.Jochen Zeitz, Harley's chief executive, will be the chairman of LiveWire for up to two years following the completion of the deal. In an investor presentation, LiveWire projected units sales volume of 100,961 electric bikes by 2026.
Harley-Davidson will retain a 74% stake in the company, which is expected to list on the New York Stock Exchange under the symbol "LVW". ABIC's shareholders will own about 17%.Reporting by Aishwarya Nair in Bengaluru, Additional reporting by Mehnaz Yasmin; Editing by Shailesh Kuber, Sweta Singh and Saumyadeb ChakrabartySubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Harley-Davidson to take electric motorcycle division LiveWire public via merger with SPACHarley-Davidson Inc. undefined said Monday its LiveWire electric motorcycle business will go public by merging with special-purpose acquisition corporation...
Les mer »
Harley-Davidson hitches easy ride on SPAC boomSometimes you just want to be somebody else. Old-school motorcycle manufacturer Harley-Davidson will list its electric bike unit, LiveWire, for $2.3 billion through a merger with special-purpose acquisition company AEA-Bridges Impact (ABIC). It’s a neat way to hitch a ride on the blank-cheque boom, although the company has done what it can to ensure a smooth ride.
Les mer »
Harley-Davidson’s Electric-Vehicle Division to Go Public Via SPAC MergerThe merger gives LiveWire, the motorcycle maker’s electric-vehicle arm, an enterprise valuation of about $1.77 billion.
Les mer »
Walmart’s robot SPAC automates industry disruptionThe retailer is investing $150 mln with a SoftBank-backed SPAC that struck a $5.5 bln deal with a robotic firm it uses. Similar to other blank check mergers, it is speculative. But like Amazon’s Rivian deal, Walmart is making a low-risk, high reward bet on an autonomous future.
Les mer »
Harley's electric motorcycle division to go public via $1.7 bln SPAC dealHarley-Davidson Inc's electric-motorcycle division LiveWire will go public through a merger with a blank-check firm in a deal valuing it at $1.77 billion, the company said on Monday, as the 118-year old brand turns to younger customers to boost volumes.
Les mer »
SoftBank SPAC to take Walmart-backed Symbotic public in $5.5 bln dealWalmart Inc-backed Symbotic said on Monday it would go public through a merger with a SoftBank Group Corp blank-check firm in a deal offering the robotics and automation startup a pro-forma equity value of $5.5 billion.
Les mer »