Polestar attracts new $400m equity finance

Geely-owned Polestar has announced a USD400 cardinal equity concern by Feathertop Funding Limited, a peculiar intent conveyance consolidated to Sumitomo Mitsui Banking Corporation, and Standard Chartered Bank (Hong Kong) Limited – astatine USD 200 cardinal each.

Concurrent with the purchase, the 2 fiscal institutions person each entered into a enactment enactment statement with a wholly-owned subsidiary of Geely Sweden Holdings AB, which provides the fiscal institutions with an exit path, if needed, successful 3 years with definite returns, arsenic portion of this equity financing arrangement.

Polestar said the presumption are akin to the equity financing arrangements announced by the institution successful December 2025.

Michael Lohscheller, Polestar CEO, said: “Following the caller equity financing and the backing announcements successful December, and with the enactment of Geely Holding, we proceed to marque advancement connected enhancing our liquidity presumption and strengthening our equilibrium sheet. With a grounds twelvemonth of retail income down us, we are afloat focused connected creating a stronger Polestar.”

Following the closing of the transaction with Sumitomo Mitsui Banking Corporation and Standard Chartered Bank, neither fiscal instauration volition ain much than 10% of Polestar’s outstanding equity. The terms per Class A ADS to beryllium purchased astatine the closing volition beryllium USD 19.34, which is the aforesaid terms arsenic successful the equity financing successful December. The fiscal institutions volition not person immoderate restrictions connected the merchantability of the Class A ADSs they receive, taxable to immoderate applicable securities laws.

The transactions are expected to adjacent by 5 February 2026 arsenic nary regulatory approvals are required.

BofA Securities is acting arsenic Polestar’s exclusive fiscal advisor successful transportation with this transaction.

"Polestar attracts caller $400m equity finance" was primitively created and published by Just Auto, a GlobalData owned brand.

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