NKLA - Report: Electric-Car Maker Fisker Could Soon Go Public Following Nikola's Lead
Electric-vehicle maker Fisker is in discussions to go public via a reverse merger with a special-purpose acquisition company, or SPAC, in a deal that would be modeled on the successful public-market debut of electric-truck start-up Nikola (NASDAQ: NKLA) last month, according to a new report.
Reuters reports on Thursday that several SPACs, led by Spartan Energy Acquisition (NYSE: SPAQ) are bidding for Fisker. A deal in the range of $2 billion could be struck as early as next week, according to the report, which cited multiple "people familiar with the matter."
Nikola's shares have risen more than 70% since its merger with the SPAC VectoIQ Acquisition was finalized in early June. The success of that merger set off a flurry of deals, with rival electric-truck maker Hyliion and self-driving vehicle technology company Velodyne Lidar agreeing to merge with the SPACs Tortoise Acquisition (NYSE: SHLL) and Graf Industrial (NYSE: GRAF), respectively.