Polestar Announces $200M PIPE Equity Investment By PSD Investment At $1.05 Per ADS With 190,476,190 New Class A ADS Issued; PSD To Convert 20M Class B ADS To Maintain Voting Power Below 50%

Author: Benzinga Newsdesk | June 16, 2025 08:52am

Polestar (NASDAQ:PSNY) announces a USD 200 million equity investment by PSD Investment Limited ("PSD Investment"), an existing investor, an entity that is controlled by Mr. Shufu (Eric) Li, Founder and Chairman of Geely Holding Group.

Polestar Automotive Holding UK PLC ("Polestar") has entered into a securities purchase agreement pursuant to which Polestar agreed to sell newly issued 190,476,190 Class A American Depositary Shares ("ADS") to PSD Investment for an aggregate price of USD 200,000,000 through a private investment in public equity ("PIPE") at a price of $1.05 per Class A ADS, which represents the volume weighted average closing sale price for the previous five consecutive trading days prior to signing. Prior to closing of the PIPE, PSD Investment intends to convert 20,000,000 of its Class B ADS shares into Class A ADS shares in order to keep the overall voting power of its Polestar shareholdings below 50%. Polestar intends to use the proceeds from the equity investment for working capital requirements and general corporate purposes.

Posted In: PSNY