GGPI - Gores Guggenheim is on watch after updating on Polestar deal

December, 20 2021 10:35 AM Gores Guggenheim Inc. Unit

Gores Guggenheim (GGPI -0.3%) and electric vehicle maker Polestar amend their proposed business combination agreement. In a SEC filing, GGPI states that a portion of its commitment to purchase ListCo Class A ADSs, in an aggregate investment amount equaling approximately $63M, have been assigned to certain investors. The sponsor has agreed to subscribe for approximately 2.15M ListCo Class A ADSs for a purchase price of $9.09 per ListCo Class A ADS on the date of closing, for an aggregate investment of approximately $19.5M. In a filing last month, Polestar stated that it continues to deliver on its market and retail expansion plans that underpin the company's "significant" growth targets over the coming years. The Polestar brand is expected to be operating in 30 markets by the end of 2023 as it is looking to ramp up sales to 290K vehicles by the end of 2025. Sector view: What to watch

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Gores Guggenheim is on watch after updating on Polestar deal

Company Name:	Gores Guggenheim Inc. Unit
Stock Symbol:	GGPI
Market:	NASDAQ

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